ViaSat (VSAT – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Ryan Koontz from Needham maintained a Buy rating on the stock and has a $16.00 price target.
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Ryan Koontz has given his Buy rating due to a combination of factors including the robust performance in ViaSat’s government satellite communications and defense technology sectors. Despite a decline in the commercial communications segment, the government sector showed a significant year-over-year growth, which helped offset the losses.
Furthermore, Koontz anticipates that the company’s growth will continue, albeit at a slower pace, due to limited satellite capacity until new satellites become operational. The competitive advantages in in-flight connectivity and defense technology are expected to sustain the company’s growth. Although the price target was adjusted to $16 based on a sum-of-the-parts valuation, the overall outlook remains positive.