Viasat’s stock selloff ‘largely driven by emotion,’ analyst says
Viasat Inc.’s stock plunged more than 28% Thursday after the communications company disclosed a problem that could affect one of its satellites.
But William Blair analyst Louie DiPalma said that the satellite... Viasat Inc.’s stock plunged more than 28% Thursday after the communications company disclosed a problem that could affect one of its satellites. But William Blair analyst Louie DiPalma said that the satellite setback, while frustrating, has prompted an outsized reaction. “We believe this stock selloff is largely driven by emotion as there are a number of mitigating factors that soften the blow,” he wrote in a note Thursday, adding that insurance and Viasat’s acquisition of Inmarsat will lessen any impact.
“The recent acquisition of Inmarsat already provides Viasat with global coverage, which was one of the original goals of the ViaSat-3 constellation,” DiPalma wrote.However, Raymond James analyst Ric Prentiss warned that the ViaSat-3 problem could be “a major blow” to the timing of Viasat’s growth story. “The coming months will be pivotal as Viasat looks to address the issue and bring the satellite into at least partial service,” he said in a note released Wednesday.
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