Viasat falls as B Riley Securities nearly halves PT

Telesat

08/07/2022 15:43

** Shares of satellite communications firm Viasat Inc
 VSAT.O  fall 2.6% to $28.78
    ** B Riley Securities cuts PT to $56 from $100, citing
three-year delay in launching its VS-3 constellation and co's
willingness to issue over 46 mln shares of equity to acquire
Inmarsat
    ** VSAT currently faces competition from Starlink in what
could become a crowded field with the emergence of new players
such as OneWeb, Telesat's  TSAT.TO  Lightspeed, Amazon.com Inc's
 AMZN.O  Kuiper - brokerage
    ** Adds it believes VSAT has done enough politically to win
regulatory approval in the U.K. in time for a close by year end
    ** Up to last close, stock had fallen ~35% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))