Piper Sandler Starts ASTS at Overweight, SpaceX and RKLB at Neutral

Piper Sandler late Wednesday initiated coverage of three space-sector companies, assigning an Overweight rating to AST SpaceMobile (ASTS) while starting SpaceX and Rocket Lab (RKLB) at Neutral.

The Overweight call on ASTS rests on the company's valuation and earnings trajectory, the firm said. Risks flagged include competition from Starlink.

Rocket Lab, rated Neutral, carries an Alpha Score of 38/100, labeled Mixed, in the Industrials sector. The Piper Sandler initiation adds a second sell-side view to the stock.

SpaceX, which is not publicly traded, received a Neutral rating based on its current market position and growth outlook.

ASTS shares have moved on the initiation, with the Overweight rating providing a fresh catalyst for the mobile-network-from-space company. The stock page is here.