Jefferies reiterates Firefly Aerospace stock rating on SpaceMobile deal
Jefferies reiterated a Buy rating and $35 price target for Firefly Aerospace (FLY) after its $1.3B deal with AST SpaceMobile. FLY's stock trades at $16.60, below analyst targets. The company reported 179% revenue growth to $287M over 12 months. Q3 2026 revenue is projected at $103M, with a negative EBITDA of $73M. FLY's backlog is $1.5B, and full-year revenue guidance is $420M-$450M.
How this was made
The 30-second read
Why it matters
The new contract reinforces the company's growth trajectory and may accelerate Alpha and Eclipse vehicle development.
Market read
First report of a multi‑billion dollar contract for Firefly, likely to move the stock and influence the small‑sat launch sector.
What to watch
Potential competition from larger launch providers and the need for sustained demand beyond the initial three rockets.
Background
Firefly Aerospace recently posted record revenue growth and a $1.5B backlog, maintaining full‑year guidance of $420‑$450M.
Ticker impact
Jefferies reiterated a Buy rating and $35 price target after Firefly Aerospace secured a $1.3B three‑year supply contract with AST SpaceMobile.
upward pressure as the market prices in the $1.3B contract and higher target.
Large multi‑year deal adds significant revenue and cash flow, supporting the analyst's price target.
Market effects
Strengthens the small‑sat launch services sector and may boost peers developing similar propulsion technology.
Positive for U.S. aerospace firms and related supply chain participants.
Limited to aerospace niche but highlights growing demand for commercial launch capabilities.
Counterpoint
If the contract execution stalls or AST SpaceMobile faces its own financing issues, the upside could be muted.
Key entities
- companyFirefly Aerospace
U.S. aerospace manufacturer (NASDAQ:FLY).
- companyAST SpaceMobile
Partner for heavy‑lift launch vehicle development.
