AST SpaceMobile shares climbed 11% to $62.40 after Berenberg Bank initiated coverage with a Buy rating and a $92 price objective, implying roughly 65% upside from the prior close. Analyst Michael Filatov framed the thesis around AST’s status as the only company to demonstrate genuine cellular broadband from orbit to unmodified mobile phones, alongside alliances with more than 60 mobile network operators including AT&T and Verizon that could reach about 3 billion prospective users and a $1.3 billion contract backlog. The company has deployed 13 BlueBird satellites, with a dozen operational, but shifted its 45-satellite deployment target from late 2026 into early 2027 after the April loss of BlueBird 7 and a July second-quarter update, pressure that had pulled shares from a May 28 peak of $133.09 into the lower $60s. Berenberg expects significant commercial expansion and accelerating revenue from continuous service coverage in 2027, supported by proprietary L-band and S-band spectrum plus additional low-band access, and sees AST as a complementary partner to carriers such as Vodafone and Rakuten rather than a rival. Market projections cited in the coverage point to revenue rising from $71 million in 2025 to $1.73 billion by 2028, with adjusted EBITDA profitability later in that period, while Wall Street remains split after UBS kept Neutral with a $78 target and Piper Sandler maintained Overweight at $98. At an enterprise valuation of about $21 billion, or roughly 33 times projected next-year revenue, Berenberg described the setup as asymmetric risk-reward ahead of the 2027 rollout within a global space economy it estimates exceeded $500 billion in 2025 and could surpass $1 trillion by 2030.