AST SpaceMobile price target raised to $38 from $31 at UBS

UBS analyst Christopher Schoell raised the firm’s price target on AST SpaceMobile (ASTS) to $38 from $31 and keeps a Buy rating on the shares. While the firm believes AST SpaceMobile is a high-risk, high-reward investment, new carrier deals, scaling production and funding progress adds to the firm’s conviction, the analyst tells investors in a research note.