Wells Fargo’s market analysts on Friday upgraded Carlsbad's ViaSat Inc. (Nasdaq: VSAT) from “market perform” to “outperform,” saying that its solid long-term growth prospects as a broadband services provider outweigh the lowered expectations for its near-term performance, which have brought its price to an attractive level.
ViaSat, which has scheduled its fiscal year-end conference call for Tuesday, has been in a stock slump since late March, but the Wells Fargo rating helped push its stock up nearly 3 percent during the first hour of trading Friday on Wall Street.
The ratings team at TheStreet, on the other hand, reiterated its “hold” on ViaSat, saying that its “robust revenue growth” was countered by its 0.72 debt-to-equity ratio, which it described as “somewhat low overall, but high when compared to the industry average.” But TheStreet added that the company’s quick ratio -- a measure of its ability to meet short-term obligations -- was “sturdy” at 1.20.
6155 El Camino Real
Carlsbad, CA 92009