ViaSat price target lowered to $26 from $28 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on ViaSat to $26 from $28 and keeps an Equal Weight rating on the shares. Viasat shares are down roughly 11% since the company reported Q4 earnings, a quarter in which revenues and EBITDA came in modestly above expectations, as the company’s consumer broadband business continued to see pressure as LEO operators take share and as the company prioritizes capacity for its higher margin IFC business, the analyst tells investors in a research note. The firm expects weakness in Viasat’s consumer broadband business to continue into FY25, and says Viasat remains a “show-me” story.