AST SpaceMobile Cut to Hold on Launch Delays

Piper Sandler cut AST SpaceMobile to Hold from Buy on Oct. 13, cutting its price target — expected value — to $54 from $98, per Barron's. Yahoo Finance put the Oct. 9 close at $50.97, down 10.48%. Launch troubles and SpaceX rivalry threaten delays. I see little cushion if launches slip further.