JPMorgan Updates June Top Picks, Adding Satellite Communications Company Viasat
Alina Collins
JPMorgan's June analyst focus list adds satellite broadband provider Viasat and keeps Eli Lilly; the refresh follows a strong May for U.S. equities — the Nasdaq rose over 8% in the month — signaling the bank's conviction in communications and pharma.
What is this list and how should you read it?
JPMorgan analysts compile a monthly "focus list" spanning growth, income, value, and short strategies.
Key caveat: picks on this list may differ from the bank's fundamental ratings — think of it as "trade ideas for the month," not a formal research upgrade.
This means → seeing a stock on the list is not the same as a JPMorgan "strong buy"; the strategy context matters.
Why was Viasat added?
Viasat is a global high-speed satellite broadband provider and a direct competitor to SpaceX's Starlink.
Revenue split: roughly 70% from communications services, the remaining 30% from defense and advanced technology.
In plain terms = this is not a pure commercial internet play — nearly a third of revenue is tied to military contracts, giving it a diversified income base.
What just happened to Viasat's stock?
The stock surged over 730% in the past year, then dropped about 16% over two trading days after the company filed a shelf registration — a pre-approval that lets it issue stock or debt at any time — with the SEC.
This means → the market fears potential equity dilution or added debt; that triggered the short-term selling pressure.
Needham maintained its buy rating last Friday and raised its target from $58 to $90. On Monday, Viasat won a Lockheed Martin contract to supply a hybrid satellite-communications platform for NOAA's next-generation aircraft.
Why does Eli Lilly stay on the list?
Lilly's market cap now exceeds $1 trillion; in May it re-entered the vaccine and infectious-disease space.
CVS Health said it will restore coverage of Lilly's weight-loss injection Zepbound, strengthening its edge over Novo Nordisk.
The company announced or closed seven acquisitions in the past three months; its stock hit an all-time high last Thursday, up roughly 73% from a 52-week low of about $624 last August.
How did U.S. stocks close out May?
All three major indexes rose: the Nasdaq Composite gained over 8%, the S&P 500 added 5%, and the Dow climbed 3%.
This reflects a broader signal — a major bank refreshing its top picks after a strong month is itself a directional statement, and the choices here lean toward higher-certainty lanes: satellite communications and a trillion-dollar pharma name.
Content is for reference only, not financial advice.