What Happened?
Shares of global satellite communications provider Viasat (NASDAQ:VSAT) jumped 9.1% in the morning session after Raymond James reiterated an Outperform rating and a $107 price target for the company. According to StreetInsider, Raymond James pointed to the completed ViaSat-3 constellation and the chance for EBITDA to grow in the second half of calendar 2026 and into 2027.
The firm said finishing those satellite deployments could open a review of the Defense and Advanced Technologies business, including a possible spin-off. The write-up also noted two earlier company items: fiscal first-quarter earnings of $0.17 a share, against a $0.05 consensus, and a binding agreement with Space42 of the United Arab Emirates to form Equatys, a direct-to-device joint venture aimed at up to $1 billion of combined equity and a constellation of as many as 2,800 satellites.
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What Is The Market Telling Us
Viasat's shares are extremely volatile and have had 70 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 3 months ago when the stock gained 21.6% on the news that sentiment improved following news of a major acquisition in the satellite communications sector involving competitor Iridium. The stock moved as investors reacted to Rocket Lab's deal to acquire rival satellite operator Iridium. This acquisition highlights the fast-changing landscape in the satellite communications industry and raises questions about how Viasat will defend its market position. While such a deal could increase competitive pressure, the positive stock reaction suggests investors may see benefits in industry consolidation.
Viasat is up 93.4% since the beginning of the year, but at $72.76 per share, it is still trading 19% below its 52-week high of $89.81 from June 2026. Investors who bought $1,000 worth of Viasat's shares 5 years ago would now be looking at an investment worth $1,279.
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