Viasat (VSAT) shares plummeted 5.54% in Thursday's pre-market trading session following a downgrade from Deutsche Bank. The financial institution lowered its rating on the satellite communications company from Buy to Hold, triggering a significant sell-off among investors.

Interestingly, despite the downgrade, Deutsche Bank actually raised its price target for Viasat from $18 to $28. This contradictory move has left some market observers puzzled. The higher price target suggests that Deutsche Bank still sees potential upside for the stock, but perhaps with increased risk or a longer time horizon, hence the Hold rating.

According to FactSet, the average analyst rating for Viasat remains overweight, with a mean price target of $26.33. This indicates that while Deutsche Bank has become more cautious, the overall sentiment among analysts is still relatively positive. However, today's sharp stock decline suggests that investors are focusing more on the rating downgrade than the increased price target or the broader analyst consensus.