UPDATE: Raymond James Upgrades ViaSat (VSAT) to Strong Buy
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Raymond James analyst Richard Prentiss upgraded ViaSat (NASDAQ: VSAT) from Outperform to Strong Buy with a price target of $67.00.
The analyst comments "We are upgrading VSAT to Strong Buy (from Outperform) and maintaining our $67 price target, as we believe the stock price is dislocated from fundamental value trading at ~8.5x CY21 and ~7x CY22 EV/EBITDA (see chart below). We expect significant growth potential upon the launch of the ViaSat-3 (VS-3) constellation (first of three launches expected C1Q22), and the company is effectively managing costs and capacity in the meantime. In addition, as vaccines are rapidly distributed and administered, the In-Flight Connectivity (IFC) business should see continued recovery in conjunction with the return to relative normalcy."
Shares of ViaSat closed at $48.07 yesterday.
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