Core Viewpoint - ViaSat's stock experienced a significant increase of 24% following an upgrade to "outperform" by analyst Louie DiPalma, who predicts the stock could more than double in the next 12 months [1][3]. Group 1: Analyst Insights - DiPalma utilized a sum-of-the-parts valuation method to assess ViaSat, which operates in commercial broadband, narrowband communications, and has a defense technology division [3]. - The defense technology segment contributes approximately 27% of ViaSat's revenue and is responsible for all of the company's profits [4]. - There is speculation that ViaSat may spin off or conduct an IPO for its defense technology business, which raises concerns about the remaining value of the company post-IPO [4][5]. Group 2: Financial Projections - ViaSat is projected to become free cash flow positive later this year, with an anticipated $568 million payment expected in 2026 [5]. - The completion and launch of the final two ViaSat-3 satellites are expected to enhance the likelihood of achieving positive free cash flow [5]. - Despite the optimistic outlook, there are doubts regarding the feasibility of these projections, as ViaSat has not generated positive free cash flow since 2008, with some analysts predicting it may not occur until 2027 [6]. Group 3: Investment Sentiment - The overall sentiment towards ViaSat stock remains cautious, with some analysts still considering it a sell based on historical performance and cash flow challenges [6][7].