Oppenheimer initiated coverage of Viasat (VSAT) on Monday with an Outperform rating.
The firm established a $140 price target for the stock. This valuation suggests a potential upside of approximately 96% from the previous closing price.
Analysts based the bullish outlook on the value of Viasat's spectrum assets. These frequencies represent one of the last large blocks available for emerging direct-to-device opportunities.
Oppenheimer also noted that the company’s core business is nearing a free cash flow inflection point. Viasat shares rallied significantly following the report.