HSBC Holdings PLC Cuts Inmarsat Plc (LON:ISAT) Price Target to GBX 570

Inmarsat Plc (LON:ISAT) had its price objective decreased by HSBC Holdings PLC from GBX 720 ($9.47) to GBX 570 ($7.50) in a research report released on Wednesday morning. HSBC Holdings PLC currently has a hold rating on the stock.

Several other research firms have also recently issued reports on ISAT. Deutsche Bank AG restated a buy rating and set a GBX 1,010 ($13.28) price objective on shares of Inmarsat Plc in a report on Monday, September 18th. Barclays PLC reduced their target price on Inmarsat Plc from GBX 755 ($9.93) to GBX 670 ($8.81) and set an underweight rating on the stock in a report on Friday, September 15th. Berenberg Bank upgraded Inmarsat Plc to a hold rating and reduced their target price for the company from GBX 680 ($8.94) to GBX 640 ($8.42) in a report on Thursday, November 2nd. J P Morgan Chase & Co reduced their target price on Inmarsat Plc from GBX 740 ($9.73) to GBX 690 ($9.08) and set a neutral rating on the stock in a report on Friday, November 10th. Finally, reduced their target price on Inmarsat Plc from GBX 820 ($10.79) to GBX 720 ($9.47) and set a hold rating on the stock in a report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of GBX 731.67 ($9.62).

Inmarsat Plc (LON ISAT) traded down GBX 0.60 ($0.01) during mid-day trading on Wednesday, hitting GBX 494.60 ($6.51). The stock had a trading volume of 4,528,802 shares, compared to its average volume of 2,680,000. Inmarsat Plc has a 1-year low of GBX 488.10 ($6.42) and a 1-year high of GBX 865 ($11.38).

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In other Inmarsat Plc news, insider Simon Bax bought 2,500 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of GBX 646 ($8.50) per share, with a total value of £16,150 ($21,241.62). Also, insider Rupert Pearce bought 19,260 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average cost of GBX 519 ($6.83) per share, for a total transaction of £99,959.40 ($131,473.63).

Inmarsat Plc 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.

Analyst Recommendations for Inmarsat Plc (LON:ISAT)

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