BUZZ-Viasat falls after J.P. Morgan downgrades to 'neutral'
Reuters · 2d ago
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** Satellite communications firm Viasat's VSAT.O shares down 3.24% at $13.13 premarket
** J.P. Morgan downgrades stock to "neutral" from "overweight", after United Airlines shifted more than 1,000 mainline aircraft from existing VSAT to Starlink for its in-flight connectivity
** VSAT has leading market share in commercial in-flight connectivity but faces long-term competitive risk from Low Earth Orbit (LEO) constellations, specifically Starlink - brokerage
** JPM cuts stock's PT to $15 from $29
** Three of 9 analysts rate the stock "buy" or "higher", 6 "hold"; their median PT is $27 - LSEG
** Stock down about 51% YTD
(Reporting by Prakhar Srivastava in Bengaluru)
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