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Fly News Breaks for February 7, 2017
VSAT
Feb 7, 2017 | 06:45 EDT
As previously reported, Raymond James upgraded ViaSat to Outperform from Market Perform and established a $72 price target. Analyst Ric Prentiss said the company is set to launch its next generation ViaSat-2 satellite in late March/April. Prentiss said the much needed increased capacity will begin growing consumer broadband subs in FY18 and installed aircrafts, that is expected to drive meaningful revenue, EBITDA, and margin growth in FY19. Additionally, shares have underperformed 25% since the $500M equity offering in November, providing an attractive entry point, the analyst wrote.
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