Deutsche Bank upgrades satellite stock that competes with Elon Musk's Starlink
- Deutsche Bank upgraded Viasat to buy from hold, raising its price target to $15, which indicates over 53% potential gain from the previous close.
- Analyst Edison Yu noted that Viasat's successful satellite deployments could lead to positive cash flow of $300 million to $500 million by 2027.
- Despite a recent stock price increase of 12% in March, Viasat's stock had dropped more than 23% over the past six months, compared to the S&P 500's fall of over 1%.
- Yu highlighted opportunities for Viasat in selling its Defense and Advanced Technologies assets, while expressing concerns about competition from Starlink.
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8 Articles
Deutsche upgrades ViaSat on ‘multiple paths’ to value creation - Overpasses For America
VSAT) to Buy from Hold with a price target of $15, up from $13. The firm still has concerns about Viasat’s core communication services business longer-term in the context of pressure from Starlink. However, Deutsche now sees “multiple paths” for the company to create equity value by materially deleveraging its balance sheet through asset monetization. The stock’s valuation is “increasingly compelling” at current levels, the analyst tells investo…
STOCK MARKET: Shares of Starlink competitor Viasat pop more than 10% on Deutsche Bank upgrade – U-S-NEWS.COM
FILE PHOTO: Viasat offices are shown at the company’s headquarters in Carlsbad, California, U.S. March 9, 2022. Mike Blake | Reuters Viasat’s stock soared on Monday after the Starlink competitor received an analyst endorsement from Deutsche Bank. Shares of the satellite communications giant and competitor to Starlink — the satellite internet service owned and operated by Elon Musk’s SpaceX — jumped more than 13% in afternoon trading after analys…
Telesat signs multi-year deal to provide Lightspeed services in Bangladesh
Canadian satellite operator Telesat and Bangladesh-based satellite services provider ADN Telecom Limited announced Tuesday they have signed a multi-year agreement to deliver Telesat Lightspeed low Earth orbit (LEO) connectivity solutions across Bangladesh and South Asia. The Telesat Lightspeed LEO constellation project is currently underway and the first satellite launches are expected to begin in the second half... Read more »
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