BWS Financial Initiates Coverage on KVH Industries (KVHI) with a Buy; Standout Compared to Competitors

September 17, 2009 8:42 AM EDT

BWS Financial initiates coverage on KVH Industries (Nasdaq: KVHI) with a Buy. Price target $15.

BWS analyst says, "KVHI is bringing broadband communications to ships while they are at sea. KVHI does not own satellites, but has developed a solution that would cost much less than current means of communication...KVHI is the only all-in-one solution to serve the industry. The Company’s small antenna unit makes their mini-VSAT service standout compared to competitors...Our efforts in 2009 have been to find companies where the economy would play a minimal or no roll on earnings. KVHI has exposure to the economy, but the benefits of the KU-band service override some of the complexities. There could be an extended sales cycles with some shipping companies. The truth is that companies are not going to accept the costs associated with Inmarsat when the mini-VSAT would be more efficient. This should play out in customer uptake in 2010 and going forward. KVHI is already seen some positive traction from potential customers, and global coverage is not yet complete."

To see more analyst ratings on KVHI Click Here.

KVH Industries, Inc. develops, manufactures, and markets mobile communications products for the marine, land mobile, and in-flight; and navigation, guidance, and stabilization products for the defense and commercial markets.

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