Needham & Company Remains Bullish Following an Investor Visit to KVH Industries (KVHI) Headquarters

Needham & Company reiterates a Buy rating and $17.00 price target on KVH Industries (NASDAQ: KVHI) following an investor visit to KVHI headquarters. Analyst Richard Valera said that the visit reinforced positive views of the potential for the company's IP MobileCast service.

Valera commented, "Yesterday we hosted an investor visit to KVHI's Rhode Island headquarters in which we got significant exposure to the company's senior management and a tour of the factory where KVH's antennas are produced. While admittedly shedding little new light on the company's light air-time revenue in 1Q15, the visit reinforced our positive view of the potential for the company's IP MobileCast service, which we see as highly synergistic with its current content and mobile broadband businesses, as well as the attractiveness of KVH's transition to a predominantly recurring/service revenue model (now ~60% of total). We reiterate our Buy rating and PT of $17, or ~10x EV/C2016E EBITDA."

For an analyst ratings summary and ratings history on KVH Industries click here. For more ratings news on KVH Industries click here.

Shares of KVH Industries closed at $13.57 yesterday.

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