Viasat Inc. shares climbed 6.2% in morning trading Thursday following a Raymond James reiteration of its Outperform rating and $107 price target on the satellite communications company.

Raymond James cited the completion of the ViaSat-3 constellation and potential for EBITDA growth in the second half of calendar 2026 and into 2027 as key factors supporting its outlook.

The stock movement follows several recent developments for the company. In early August, Viasat reported first-quarter fiscal 2027 earnings per share of $0.17, beating the consensus estimate of $0.05.

The company also signed a binding agreement with Space42 of the United Arab Emirates to establish Equatys, a joint venture focused on direct-to-device and mobile satellite services. The venture targets up to $1 billion in combined equity and a potential constellation of up to 2,800 satellites.

Raymond James noted that the completion of ViaSat-3 satellite deployments could lead to a strategic review of the company's Defense & Advanced Technologies segment for a possible spin-off.