UPDATE: Wedbush Maintains Neutral Rating, Lowers PT for ViaSat
In a report published earlier today, Wedbush Securities Inc. maintained its Neutral rating for ViaSat, Inc. (NASDAQ: VSAT), but slightly lowered its price target from $43.00 to $42.00.
Wedbush went on to say “In our view, ViaSat reported a slightly weaker-than-expected 4Q12. Revenues were better than expected due to strength in the Commercial Networks segment. The company indicated that there were no one-time items driving the Commercial Networks performance, but it was seeing strong international demand (Saudi Arabia, for example) as well as the initial ramp for Exede. However, margins in the Commercial segment were also slightly better than we expected, but the Satellite Services segment posted an operating loss of $16 million due to start-up expenses associated with the Exede roll out.”
ViaSat, Inc. closed yesterday at $43.75
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