Market Overview

UPDATE: Bank of America Reduces PO to $38 on ViaSat on Pullback

Related VSAT
Earnings Scheduled For August 9, 2016
Benzinga's Top Initiations
Rivals rush to address dearth of European airborne Internet access (Seeking Alpha)

Bank of America reiterates its Underperform rating on ViaSat (NASDAQ: VSAT) and decreases its price target from $46 to $38.

Bank of America says, "We are lowering our PO to $38 from $46 in response to the recent pull back in market multiples. Our new PO is based on a 7.8x CY13E EV/EBITDA multiple. During a cycle VSAT tends to trade between 6x and 14.5x one calendar year forward EV/EBITDA. Given the recent uncertainty in the economic environment and the concerns many investors have on the status of filling ViaSat-1, we believe a more conservative multiple is warranted at this time. In our view 7.8x CY13 reflects the inherent risks."

VSAT closed at $37.24 on Tuesday.

Latest Ratings for VSAT

Aug 2016JefferiesInitiates Coverage onHold
May 2016Drexel HamiltonDowngradesHoldSell
Oct 2015Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for VSAT
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings


Related Articles (VSAT)

View Comments and Join the Discussion!