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

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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

Apr 2017JP MorganInitiates Coverage OnNeutral
Feb 2017BarclaysInitiates Coverage OnEqual-Weight
Feb 2017Raymond JamesUpgradesMarket PerformOutperform

View More Analyst Ratings for VSAT
View the Latest Analyst Ratings

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


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