AST SpaceMobile Rises on Berenberg's Price Target; Planet Labs Gains
Berenberg analyst Michael Filatov initiated coverage of AST SpaceMobile (NASDAQ:ASTS), Rocket Lab (NASDAQ:RKLB), and Planet Labs (NYSE:PL) with Buy ratings, assigning price targets of $92, $83, and $25 respectively. The move pushed ASTS up 11% to $62.36 and PL rose by 5%. Filatov cited unique market positions for each company—AST SpaceMobile as the only provider offering cellular broadband from space to unmodified smartphones, Planet Labs as the sole daily Earth imaging firm with a growing backlog of $906 million year-over-year. The analyst also highlighted falling launch costs and rising defense spending in space as tailwinds. ASTS is advancing its satellite deployment toward commercial service while PL benefits from recurring revenue based on existing capabilities rather than future milestones. The Procure Space ETF (UFO) barely moved, indicating the gains were isolated to specific stocks rather than a broader sector rally. The market reaction appears more like a bounce in underperforming names within the space industry rather than an indication of broad-based momentum.
Tickers: $ASTS $PL $RKLB $SPCX
Topics: AST SpaceMobile Berenberg Planet Labs price targets Rocket Lab