Billionaire Seth Klarman’s 10 Stock Picks with Huge Upside Potential

6. Viasat, Inc. (NASDAQ:VSAT)

Upside Potential as of April 29: 38.74%

Baupost Group’s Stake Value: $104,014,000

Viasat, Inc. (NASDAQ:VSAT) is a global communications company specializing in satellite and wireless technologies. It provides satellite internet, in-flight Wi-Fi, secure communications for governments, and connectivity solutions for maritime and residential customers. Analysts rate the stock as a Moderate Buy, with an average price target of $13.00, ranging from $10.00 to $19.00, reflecting a 38.74% rise from its last price of $9.44.

In FQ3 2025, Viasat, Inc. (NASDAQ:VSAT) reported $1.1 billion in revenue, which was flat year-over-year. The Defense and Advanced Technologies segment registered robust revenue growth of 20%, but was offset by declines in the Communication Services segment. Adjusted EBITDA came in at $393 million, a 3% increase compared to the same period last year. This improvement was driven by strong performance in aviation services, government satellite communications, space and mission systems, and tactical networking products.

Viasat, Inc. (NASDAQ:VSAT) continues to make significant progress in several growth areas. In aviation, the number of commercial in-flight connectivity aircraft in service grew approximately 13% year-over-year, while business jets grew about 18%. The company’s ViaSat-3 F1 satellite has already served over 10,000 flights, with reported speeds of up to 130 Mbps on commercial flights. The company is also pioneering direct-to-device (D2D) satellite connectivity. On April 23, 2025, it demonstrated the technology in Brazil using 3GPP NTN standards to connect smartphones directly via satellite without terrestrial infrastructure.