ViaSat reinstated with a Neutral at JPMorgan

JPMorgan reinstated coverage of ViaSat with a Neutral rating and $35 price target following a period of restriction. The analyst is largely positive on the Inmarsat acquisition and the resulting shift towards higher-margin service revenue, but says the recent complications with the launch of ViaSat-3 Americas “pose a meaningful headwind” to the fixed broadband business and the uncertainty around the satellite will remain an overhang on shares.