U.S. Stocks Movement | AST SpaceMobile (ASTS.US) rebounds over 5% after being upgraded to "Buy" by Deutsche Bank

Ast SpaceMobile (ASTS.US) rebounded more than 5% early Monday after a decline of over 10% the previous day, hitting a new low for the year. According to reports, Deutsche Bank previously raised its rating on the telecommunications stock from “Neutral” to “Buy.” Analyst Bryan Kraft noted that the bank downgraded the stock’s rating in May due to valuation concerns, following the explosion of the New Glenn launch pad which caused significant delays in ASTS's launch schedule. However, he now believes that recent share price weakness, multiple positive developments and catalysts that have been overlooked by the market, as well as the estimated value of spectrum already accounting for all of ASTS's enterprise value except US$10 per share, present a good opportunity to take a more positive stance.