SpaceX’s 80,000 Cell Site Push A Win For ASTS, Ericsson, Nokia, NextNav, Among Others, Says Roth Capital

SpaceX is reportedly pursuing agreements for a minimum of 80,000 cell sites across the United States as it advances plans to build a fourth nationwide wireless carrier.

• Scotiabank upgraded AST SpaceMobile to Outperform from Sector Perform and lifted its price target to $55.70 from $50.80.
• Citi analysts characterized the development as a net positive for tower operators Crown Castle, SBA Communications and American Tower. 
• In an October 20 meeting with FCC officials, major U.S. wireless carriers asked the agency to keep two key 5G spectrum bands out of draft rules that would expand satellite-to-phone service.

Roth Capital analyst Scott Searle said SpaceX’s reported interest in leasing tower capacity at as many as 80,000 sites could benefit a range of equipment, backhaul, and spectrum names as the company builds out a complementary terrestrial network to support its direct-to-device satellite constellation and challenge existing U.S. mobile carriers.

Searle pointed to AST SpaceMobile (ASTS), radio-access-network suppliers Ericsson (ERIC) and Nokia (NOK), wireless backhaul providers Aviat Networks (AVNW) and Ceragon Networks (CRNT), and spectrum holders Anterix (ATEX), NextNav (NN) and Gogo (GOGO) as potential winners of any such buildout.

The analyst was responding to a report from Bloomberg on Thursday that SpaceX is pursuing agreements for a minimum of 80,000 cell sites across the United States as it advances plans to build a fourth nationwide wireless carrier.

The report said that SpaceX is in discussions with at least one major cellular infrastructure company and said Crown Castle Inc. (CCI), among the largest U.S. owners of cellular towers alongside American Tower (AMT) and Vertical Bridge, was also approached for the purpose.

Scotiabank Upgrades ASTS, Citi Sees Downside For Carriers

Scotiabank, meanwhile, upgraded AST SpaceMobile to 'Outperform' from 'Sector Perform' and lifted its price target to $55.70 from $50.80. The analyst argued that SpaceX’s broader ambition to operate as a planetary carrier increases the strategic value of AST’s wholesale 5G model for terrestrial networks seeking to protect their core business. With the stock down roughly 70% since May, Scotiabank described the current valuation as reasonably attractive and potentially a bargain.

Citi analysts, meanwhile, characterized the development as a net positive for tower operators Crown Castle, SBA Communications and American Tower, and as negative for the major wireless carriers. The analysts estimated valuation risk of 29% to 32% for AT&T, T-Mobile and Verizon, with a further 4 % to 16% downside from current levels following the stocks’ declines in 2026.

Meanwhile, Telecom Operators Push Back Against SpaceX

In an October 20 meeting with FCC officials, major U.S. wireless carriers asked the agency to keep two key 5G spectrum bands out of draft rules that would expand satellite-to-phone service. The carriers, through their trade group CTIA, said the changes would create interference risks for existing networks used by more than 300 million people.

They also asked the FCC to keep current rules that require satellite operators to reach agreements with the carriers before using their licensed spectrum, and to hold satellite services to the same standards as traditional wireless networks. The request comes ahead of a possible FCC vote on the draft rules later this month.

SpaceX, meanwhile,  is seeking to establish itself as a standalone wireless competitor and recently acquired low-band spectrum that will help integrate its Starlink satellites into what CEO Elon Musk has described as a “major mobile carrier.”

How Did SPCX Retail Traders React?

On Stocktwits, retail sentiment around SPCX stock was 'extremely bullish' at the time of writing, while message volume was 'extremely high.'

SPCX stock closed nearly 2% higher at about $147.5 on Friday, higher than its IPO price of $135 but below its all-time highs near $226. 

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