Jefferies reiterates Firefly Aerospace stock rating on SpaceMobile deal

Investing.com · 2026-11-06 14:32 UTC

Jefferies reiterates Firefly Aerospace stock rating on SpaceMobile deal

Investing.com - Jefferies reiterated a Buy rating and $35.00 price target on Firefly Aerospace Inc (NASDAQ:FLY) following the company’s announcement of a major supply agreement. The stock currently trades at $16.60, well below the analyst target range of $25 to $50.

Firefly Aerospace announced a contract valued at more than $1.3 billion over three years with AST SpaceMobile to provide engines, intellectual property licensing and engineering support for AST SpaceMobile’s new heavy-lift launch vehicle. The deal comes as the company posted 179% revenue growth over the last twelve months, reaching $287 million. According to InvestingPro analysis, the stock appears undervalued at current levels.

Under the agreement, Firefly Aerospace will deliver 27 Miranda engines and nine vacuum Vira engines for AST SpaceMobile’s first three rockets. AST SpaceMobile will license the technology to manufacture engines thereafter.

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