- "Sentiment and a lumpy business can create attractive buying opportunities in stocks, and we view this as one of those times for VSAT," writes Wells Fargo's Andrew Spinola, upgrading shares (VSAT +2.8%) to Outperform. His valuation range has been lifted by $5 to $70-$74.
- Spinola thinks near-term expectations "have been adequately reset" ahead of Tuesday's FQ4 report, after ViaSat posted an FQ3 miss and disappointing sub growth in February.
- He still considers ViaSat "one of the best-positioned companies in satellite broadband," and calls shares attractively valued at 9x FY16E EBITDA. A 23% EBITDA CAGR is forecast through FY18.