Viasat rises after Space Force awards, shares jump
Viasat moved to a prime PTS‑G contract and won part of a $437.7M award for two anti‑jam satellites, sending the stock higher after recent rallies.
Viasat advanced from the design phase to a prime build‑and‑launch contract in the U.S. Space Force Protected Tactical SATCOM‑Global (PTS‑G) program and secured part of a $437.7 million award to produce two anti‑jam satellites for the Swarm 1 constellation. The company said the award covers manufacturing, launch and on‑orbit checkout of the first two operational satellites.
The prime contract requires Viasat to build, launch and deliver the first maneuverable geostationary Earth orbit (GEO) satellite under PTS‑G and moves the program into a multi‑year production and delivery schedule with an identifiable backlog of work.
Shares rose 23% on Monday and climbed a further 10% on Tuesday following the contract news and a series of analyst updates, extending earlier rallies in the stock.
Oppenheimer initiated coverage with an Outperform rating and a $140 price target. Analyst Timothy Horan described Viasat as “the last major global satellite spectrum play left,” estimating the company’s spectrum assets at about $15 billion on a conservative basis and valuing the core business at more than $10 billion. B. Riley raised its price target to $106 from $94, Deutsche Bank set a $97 target, Raymond James assigned an Outperform rating with a $74 target, and Barclays maintained a $49 price objective.
The company’s share gains occurred amid broader sector activity, including an agreement for Rocket Lab to acquire Iridium in an $8 billion cash‑and‑stock transaction. Under the agreement, Iridium shareholders are to receive $54 per share in cash and stock, and the deal is expected to close in mid‑2027 pending regulatory approvals.
Viasat’s government work extends beyond the Space Force awards. Lockheed Martin selected Viasat to provide high‑bandwidth satellite connectivity for NOAA’s next‑generation C‑130J Hurricane Hunter aircraft. The program initially covers two aircraft with options for additional planes and targets service around 2030.
On the commercial side, Viasat launched its ViaSat‑3 F3 satellite on a SpaceX rocket earlier this year; the company expects ViaSat‑3 F3 to begin service in the Asia‑Pacific region later this year. ViaSat‑3 F2 is reported to be nearing commercial service.
Company disclosures list the contract awards, satellite launches and analyst coverage updates among recent developments affecting Viasat.
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