Piper Sandler initiates coverage on space-linked firms
ASTS•Ratings and price targets
| Company name | Rating | Price Target |
|---|---|---|
| AST SpaceMobile | Overweight | $100 |
| SpaceX | Neutral | $156 |
| Rocket Lab | Neutral | $83 |
Piper Sandler starts coverage on SpaceX, Rocket Lab and AST SpaceMobile
Piper Sandler initiates coverage on SpaceX SPCX.O, Rocket Lab RKLB.O and AST SpaceMobile ASTS.O.
The brokerage says neutral-rated rocket builders are probably best-positioned over a multi-year period, because it's hard to build reusable rockets, and all companies in this sector will rely on their launch capabilities.
“Additionally, vertically integrated rocket makers can/will deliver services directly to end users, giving them an inimitable cost advantage. But, there's a price for everything, and over a one-year time horizon, it's hard to argue that SPCX and RKLB are 'cheap'” - brokerage.
SPCX was up nearly 1%, ASTS down 9%, and RKLB declines 1% premarket.
YTD, up to last close, RKLB was up 9.2%, and AST had fallen 8.7%; SPCX was down nearly 16% since its June debut.
