JPMorgan Chase & Co. Cuts Inmarsat (LON:ISAT) Price Target to GBX 615

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Inmarsat (LON:ISAT) had its price objective cut by research analysts at JPMorgan Chase & Co. from GBX 650 ($8.49) to GBX 615 ($8.04) in a research report issued to clients and investors on Friday, October 19th. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 45.73% from the company’s current price.

ISAT has been the subject of a number of other reports. Royal Bank of Canada cut shares of Inmarsat to a “sector performer” rating and reduced their target price for the stock from GBX 725 ($9.47) to GBX 650 ($8.49) in a report on Tuesday, September 4th. Deutsche Bank restated a “buy” rating on shares of Inmarsat in a report on Friday, July 13th. Numis Securities cut shares of Inmarsat to a “sell” rating in a report on Friday, August 3rd. Berenberg Bank raised their target price on shares of Inmarsat from GBX 440 ($5.75) to GBX 460 ($6.01) and gave the stock a “hold” rating in a report on Wednesday, July 11th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Inmarsat in a research report on Thursday, July 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Inmarsat currently has an average rating of “Hold” and an average target price of GBX 535.67 ($7.00).

LON:ISAT traded down GBX 2.40 ($0.03) during trading hours on Friday, reaching GBX 422 ($5.51). 2,837,804 shares of the company’s stock were exchanged, compared to its average volume of 2,850,000. Inmarsat has a 12 month low of GBX 381.20 ($4.98) and a 12 month high of GBX 865 ($11.30).

About Inmarsat

Inmarsat plc provides mobile satellite communications services on land, at sea, and in the air worldwide. The company operates through five segments: Maritime, US Government, Enterprise, Aviation, and Global Government. It offers voice and data broadband services; global maritime distress and safety system services; mobile and fixed voice services; a portfolio of machine-to-machine services that provide two-way data connectivity for messaging, tracking, and monitoring of fixed or mobile assets; maritime satellite services, including very small aperture terminals and television receive only antenna services; and Global Xpress, a high-speed broadband service that offer seamless connectivity for advanced data services on land, at sea, and in the air.

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