Piper Sandler initiates coverage on space-linked firms

AST SpaceMobile

16/07/2026 09:28

** Piper Sandler initiates coverage on SpaceX SPCX.O, Rocket Lab RKLB.O and AST SpaceMobile ASTS.O
** 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 up nearly 1%, ASTS down 9%, RKLB declines 1% premarket
** YTD, up to last close, RKLB up 9.2%, and AST had fallen 8.7%; SPCX down nearly 16% since June debut
     
Company name 
Rating
Price Target
AST SpaceMobile
Overweight
$100
SpaceX
Neutral
$156
Rocket Lab 
Neutral
$83

(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))