Viasat taps Rocket Lab for Space Force satellite as shares rise 0.5%

Viasat Inc. shares rose 0.54% to $83.32 on Monday, outperforming a weaker broader market after the company said it had selected Rocket Lab Corp. to build a satellite bus for the U.S. Space Force’s Space Systems Command under the Protected Tactical SATCOM-Global program. Rocket Lab will supply a geosynchronous Earth orbit version of its Lightning spacecraft platform carrying Viasat’s dual-band X/Ka-band communications payload for secure, anti-jam communications for U.S. and allied forces in contested environments. The Space Force awarded Viasat the prime contract on May 22, with the initial Swarm 1 award covering manufacturing, integration and testing, launch, on-orbit checkout, and five years of satellite operations and sustainment services. Viasat shares have surged 204% over the past 12 months, remain above key moving averages, and carry a Buy consensus rating with an average price forecast of $86.67.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.