BofA analyst Benjamin Heelan lowered the firm’s price target on ViaSat to $54 from $66 and keeps a Buy rating on the shares. ViaSat has fallen strongly since they announced issues with the ViaSat 3 satellite, notes the analyst, who thinks current valuation is “very attractive given ViaSat 3 was only one part of the story.” While the firm updated estimates, lowering its fixed broadband assumptions, and lowers its one year estimate target EV/EBITDA multiple to account for a slightly slower growth profile, it keeps a Buy rating on the shares as it sees a free cash flow inflection in FY25 supporting mid-term deleveraging.
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