Inmarsat (ISAT) Lowered to “Neutral” at Goldman Sachs Group
Goldman Sachs Group lowered shares of Inmarsat (LON:ISAT) to a neutral rating in a research report report published on Monday morning. The firm currently has GBX 580 ($7.81) price objective on the stock, down from their prior price objective of GBX 860 ($11.57).
Several other brokerages have also recently weighed in on ISAT. Numis Securities began coverage on Inmarsat in a report on Tuesday, September 5th. They issued a sell rating and a GBX 480 ($6.46) target price for the company. Jefferies Group reduced their price target on Inmarsat from GBX 1,245 ($16.76) to GBX 1,100 ($14.80) and set a buy rating for the company in a research report on Friday, September 8th. Deutsche Bank reissued a buy rating and issued a GBX 1,010 ($13.59) price target on shares of Inmarsat in a research report on Wednesday, October 11th. Barclays reduced their price target on Inmarsat from GBX 755 ($10.16) to GBX 670 ($9.02) and set an underweight rating for the company in a research report on Friday, September 15th. Finally, Berenberg Bank raised Inmarsat to a hold rating and reduced their price target for the stock from GBX 680 ($9.15) to GBX 640 ($8.61) in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of GBX 702.78 ($9.46).
Shares of Inmarsat (LON ISAT) opened at GBX 445.10 ($5.99) on Monday. Inmarsat has a 1-year low of GBX 467.30 ($6.29) and a 1-year high of GBX 865 ($11.64).
In related news, insider Abe Peled bought 8,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average price of GBX 636 ($8.56) per share, for a total transaction of £50,880 ($68,479.14). Also, insider Rupert Pearce bought 19,260 shares of the stock in a transaction dated Friday, November 10th. The stock was bought at an average price of GBX 519 ($6.99) per share, for a total transaction of £99,959.40 ($134,534.86).
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Inmarsat Company Profile
Inmarsat plc is a United Kingdom-based provider of global mobile satellite communications services. The Company’s segments include Maritime, Government, Enterprise, Aviation and Central Services. The Maritime segment focuses on commercial maritime services across the world. The Maritime segment includes the provision of broadband data and safety communications for all vessel sizes.
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