ViaSat initiated with a Neutral at Cantor amid ‘risk of disruption’

As previously reported, Cantor Fitzgerald initiated coverage of ViaSat (VSAT) with a Neutral rating and $12 price target While the firm views the market reaction to Starlink disruption risks as “overblown,” it thinks outperformance remains gated until ViaSat clears risks to future Satellite deployments and thinks new K-band providers, like Starlink, will continue to represent “a material risk of disruption,” the analyst tells investors. Longer term, the analyst thinks ViaSat’s growth will depend on market adoption of proliferated low-latency solutions and how tech demand shapes pricing around geostationary satellite networks and the firm is uncertain how GEOs are able to capture significant growth upside.