Inmarsat (LON:ISAT) had its price target lowered by research analysts at Citigroup from GBX 770 ($10.36) to GBX 530 ($7.13) in a research report issued on Friday, November 17th. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 7.07% from the stock’s previous close.
A number of other equities research analysts have also issued reports on the company. Barclays raised Inmarsat to an “equal weight” rating and decreased their price objective for the company from GBX 695 ($9.35) to GBX 600 ($8.08) in a report on Friday, November 17th. Deutsche Bank dropped their price target on Inmarsat from GBX 1,010 ($13.59) to GBX 850 ($11.44) and set a “buy” rating for the company in a research report on Thursday, November 16th. Credit Suisse Group decreased their price objective on Inmarsat from GBX 890 ($11.98) to GBX 810 ($10.90) and set an “outperform” rating on the stock in a report on Thursday, November 16th. HSBC cut their price objective on Inmarsat from GBX 720 ($9.69) to GBX 570 ($7.67) and set a “hold” rating on the stock in a research report on Wednesday, November 15th. Finally, Berenberg Bank cut their price objective on Inmarsat from GBX 640 ($8.61) to GBX 600 ($8.08) and set a “hold” rating on the stock in a research report on Wednesday, November 15th. Three equities research 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. Inmarsat has an average rating of “Hold” and a consensus price target of GBX 721.67 ($9.71).
Inmarsat (LON ISAT) traded down GBX 12 ($0.16) during trading hours on Friday, hitting GBX 495 ($6.66). The company had a trading volume of 4,501,820 shares, compared to its average volume of 4,620,000. Inmarsat has a 12-month low of GBX 467.30 ($6.29) and a 12-month high of GBX 865 ($11.64).
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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