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UPDATE: Jefferies Raises PT on RigNet on Good 4Q Results

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In a report published Wednesday, Jefferies analyst Thomas Seitz reiterated his Buy rating on RigNet (NASDAQ: RNET), and raised his price target from $22.00 to $25.00.

In the report, Seitz noted, “In our view, RNET reported better than expected 4Q results. The company ended the year with $62.5 million of cash and maintains a net cash position, which we believe could potentially be used to expand into adjacent markets via M&A. Additionally, we see scope for material ARPU expansion over the mid-to-long term.”

RigNet closed on Tuesday at $21.48.

Latest Ratings for RNET

DateFirmActionFromTo
Dec 2014MacquarieInitiates Coverage onNeutral
Oct 2014Drexel HamiltonInitiates Coverage onBuy
Dec 2013William BlairInitiates Coverage onOutperform

View More Analyst Ratings for RNET
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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