JPMorgan analyst Philip Cusick upgraded ViaSat to Overweight from Neutral with a price target of $30, down from $35. The company is pulling forward the pace of synergy realization and pulled forward the timing to positive free cash flow to the first half of 2025, the analyst tells investors in a research note. The firm says management is now focused on rationalizing capex spend and prioritizing a FCF inflection. ViaSat shares have sold off 56% since the May 31 close of the Inmarsat deal, which offers an attractive entry point, the analyst tells investors in a research note.
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