GILT - Needham initiates a Buy rating for Gilat Satellite Networks with PT $7
2023-06-27 09:28:44 ET
Needham initiates a Buy rating for Gilat Satellite Networks ( NASDAQ: GILT ) with a price target of $7.
Needham anticipates rising profitability and cash flows in the company's Peru business, and the company could also benefit in the multi-orbit satellite sector.
The $7 price target is based on EV/sales multiple of 1.0x and an EV/EBITDA multiple of 7.4x our respective 2024 estimates.
The company also has important exposure to the IFC, fixed broadband, mobile backhaul, rail and maritime transportation, and specialty government markets.
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Needham initiates a Buy rating for Gilat Satellite Networks with PT $7