Inmarsat (ISAT) Price Target Cut to GBX 580

Inmarsat (LON:ISAT) had its target price decreased by JPMorgan Chase & Co. from GBX 615 ($8.04) to GBX 580 ($7.58) in a report issued on Friday morning. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also issued reports on ISAT. Numis Securities reissued a sell rating on shares of Inmarsat in a report on Monday, August 13th. Goldman Sachs Group raised their price target on Inmarsat from GBX 480 ($6.27) to GBX 500 ($6.53) and gave the stock a neutral rating in a report on Thursday, August 9th. Societe Generale raised Inmarsat to a hold rating and raised their price target for the stock from GBX 385 ($5.03) to GBX 560 ($7.32) in a report on Thursday, August 9th. Morgan Stanley raised their price target on Inmarsat from GBX 490 ($6.40) to GBX 560 ($7.32) and gave the stock an equal weight rating in a report on Wednesday, August 8th. Finally, Barclays raised their price target on Inmarsat from GBX 460 ($6.01) to GBX 465 ($6.08) and gave the stock an equal weight rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of GBX 535.67 ($7.00).

Shares of LON ISAT traded down GBX 2.40 ($0.03) during midday trading on Friday, reaching GBX 422 ($5.51). 2,837,804 shares of the company were exchanged, compared to its average volume of 2,850,000. Inmarsat has a 1 year low of GBX 381.20 ($4.98) and a 1 year 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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