ViaSat price target lowered to $12 from $26 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on ViaSat (VSAT) to $12 from $26 and keeps an Equal Weight rating on the shares. The stock is up about 8.5% year-to-date, buoyed by a recent, sizeable government award for NASA’s Near Space Network Services, but the firm notes that the company is facing competitive concerns in key verticals. The firm maintains an Equal Weight rating as it sees competitive concerns largely priced at current levels, the analyst added in a preview ahead of fiscal Q3 results due after the close on Thursday, February 6.