Inmarsat Plc (ISAT) Price Target Cut to GBX 670
Inmarsat Plc (LON:ISAT) had its price objective dropped by equities researchers at Barclays PLC from GBX 755 ($9.75) to GBX 670 ($8.65) in a research report issued to clients and investors on Friday. The firm currently has an “underweight” rating on the stock. Barclays PLC’s price target would indicate a potential upside of 7.54% from the company’s current price.
A number of other research firms have also commented on ISAT. Beaufort Securities upgraded shares of Inmarsat Plc to a “buy” rating and boosted their price target for the company from GBX 785 ($10.14) to GBX 950 ($12.27) in a research report on Tuesday, June 6th. Deutsche Bank AG restated a “buy” rating and issued a GBX 1,020 ($13.17) price target on shares of Inmarsat Plc in a research report on Tuesday, May 30th. Macquarie restated an “outperform” rating and issued a GBX 900 ($11.62) price target on shares of Inmarsat Plc in a research report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a GBX 1,245 ($16.08) price target on shares of Inmarsat Plc in a research report on Monday, June 19th. Finally, HSBC Holdings plc reduced their price target on shares of Inmarsat Plc from GBX 850 ($10.98) to GBX 830 ($10.72) and set a “hold” rating on the stock in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Inmarsat Plc currently has an average rating of “Hold” and an average target price of GBX 833.57 ($10.77).
Inmarsat Plc (LON:ISAT) traded down 1.19% on Friday, hitting GBX 623.00. 2,726,606 shares of the company were exchanged. Inmarsat Plc has a one year low of GBX 594.50 and a one year high of GBX 865.00. The firm’s market cap is GBX 2.83 billion. The stock has a 50 day moving average price of GBX 721.74 and a 200 day moving average price of GBX 773.36.
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In other Inmarsat Plc news, insider Simon Bax purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average cost of GBX 646 ($8.34) per share, with a total value of £16,150 ($20,857.55).
About Inmarsat Plc
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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