Barclays analyst Mathieu Robilliard maintained a Buy rating on AST SpaceMobile (ASTS – Research Report) today and set a price target of $38.00.

The company wants to launch a single, exceptionally large satellite called 'FM1' meant as a technical demo. It's unclear how this fits into AST's larger plans to become a cellular Starlink rival.

While low Earth orbit satellites dominate now, there is still room for geostationary and medium Earth orbit constellations to ...