UPDATE: CRT Capital Reiterates On ViaSat Following Q2:15 Earnings

In a report published Monday, CRT Capital analyst Brian Ruttenbur reiterated a Fair Value rating on

, and raised the price target from $50.00 to $65.00. In the report, CRT Capital noted, “ViaSat reported essentially in-line Q2:15 earnings, when adjusted for a litigation settlement. Revenue came in at $358.8 million, above consensus estimates of $339.3 million, and adjusted EPS of $0.68 was above consensus of $0.16. We estimate adjusted EPS were $0.15 when the $40 million litigation settlement is subtracted from earnings and fully taxed. Forward indicators of business were encouraging on a sequential basis with backlog increasing and the churn rate decreasing (although still elevated). We have raised our estimates to take into account the litigation income going forward. We also established FY 2016 estimates and raised our price target to $65 from $50. We maintain our ‘Fair Value' rating.” ViaSat closed on Friday at $65.39.