William Blair analyst Louie DiPalma has maintained their bullish stance on GILT stock, giving a Buy rating on May 20.
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Louie DiPalma has given his Buy rating due to a combination of factors that highlight Gilat’s strong growth prospects. The company recently secured a substantial $40 million contract for its SkyEdge IV platform, which is a testament to the increasing demand for cloud-based infrastructure among satellite operators. This contract, which took several years to finalize, underscores Gilat’s pivotal role in the advancement of 5G non-terrestrial networks.
Additionally, Gilat is well-positioned to benefit from the anticipated rise in European defense spending, thanks to its subsidiaries like DataPath, Wavestream, and Stellar Blu. The acquisition of Stellar Blu, which was finalized in January, further strengthens Gilat’s market position, particularly in the LEO aviation antenna sector. With over 800 aircraft from major airlines adopting Stellar Blu’s multi-orbit antenna system and a strategic partnership with Boeing, Gilat is poised to capture significant new business opportunities.
In another report released on May 20, Needham also maintained a Buy rating on the stock with a $8.50 price target.