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JPMorgan downgrades Inmarsat to 'neutral'

Wed, 18th Jan 2017 08:53

(ShareCast News) - JPMorgan Cazenove downgraded Inmarsat to 'neutral' from 'overweight' and cut the price target to 830p from 950p.JPM said its buy case had been predicated on the belief that GX will unlock new revenue opportunities, and underpin a double digit earnings before interest, taxes and depreciation growth outlook."Whilst we remain confident in this mid-term thesis, the near-term story seems clouded by ongoing legacy pressures, a slower-than-hoped ramp-up in Aviation revenues and rising GX/aviation investment needs."As a result, JPM's 2017E EBITDA estimate is now 8% below consensus and its 2018 revenue forecast is marginally below guidance."These overhangs lead us to move to neutral; however, we argue that once expectations rebase, investors may once again be drawn to Inmarsat's (still) enviable growth story and its now de-rated valuation."Inmarsat is due to release its fourth-quarter results and full-year 2017 outlook in March and JPM expects management to refrain from providing any new mid-term revenue guidance.At 0905 GMT, the shares were down 3.5% to 680.50p.
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28 Feb 2019 15:14

FTSE 250 movers: Aston Martin skids lower, Merlin works its magic

(Sharecast News) - London's FTSE 250 was down 0.19% in afternoon trading on Thursday, after Aston Martin Lagonda drove the index lower.

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18 Feb 2019 09:48

Jefferies lifts Inmarsat target to 1,000p

(Sharecast News) - Inmarsat's shares are being valued all wrong, Jefferies argued on Monday, setting a price target almost three times higher.

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30 Jan 2019 07:40

Inmarsat signs GX Aviation contract with Indonesia's Garuda

(Sharecast News) - Inmarsat has signed a contract to provide Indonesian national carrier Garuda with its GX Aviation inflight broadband, in partnership with wireless technology provider Mahata Aero Teknologi, Lufthansa Technik and Lufthansa Systems.

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30 Jan 2019 07:38

LONDON MARKET PRE-OPEN: LSE Buys Euroclear Stake; Wizz Air Profit Dips

LONDON (Alliance News) - Stock prices in London are pointed to extend gains on Wednesday as the pound declined overnight following parliament's rejection of an amendment to keep the UK in the

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29 Jan 2019 15:59

Inmarsat Appoints Standard Chartered Regional Head Clarke As Non-Exec

LONDON (Alliance News) - Inmarsat PLC on Tuesday said it appointed Tracy Clarke as a non-executive director from February.Clarke has over 30 years' experience in a range of roles at the

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17 Jan 2019 13:13

Thursday broker round-up

(Sharecast News) - Intercontinental Hotels Group: Berenberg upgrades to buy with a target price of 4,850p.

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9 Jan 2019 08:12

Inmarsat Chair Sukawaty Joins RELX Board, As Van Der Veer Departs

LONDON (Alliance News) - RELX PLC on Wednesday announced the retirement and appointment of non-executive directors, including the hiring of Inmarsat PLC's chair to serve on the RELX board as a

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10 Dec 2018 16:20

BlackRock Ups Inmarsat Holding To 5.0% After Transaction (ALLISS)

LONDON (Alliance News) - Inmarsat PLC said Monday that BlackRock Inc upped its stake in the company to 5.0%.BlackRock's holding in the company prior to Monday's deal was below were

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1 Nov 2018 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 2 November Paddy Power BetfairQ3 ResultsTP ICAPQ3 Year & Copthorne 5 Traffic 6

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30 Oct 2018 13:15

Tuesday broker round-up

(Sharecast News) - Inmarsat: Numis upgrades to hold with a target price of 430p.

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19 Oct 2018 10:25

JPMorgan cuts target price on Inmarsat on maritime woes

(Sharecast News) - JPMorgan Cazenove took a fresh look at Inmarsat ahead of the satellite operator's third-quarter results on 8 November, where it expected "robust" financials but is beginning to get worried about stiffer maritime competition.

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24 Sep 2018 18:40

BlackRock Sells Stake In easyJet, Builds Holding In Inmarsat (ALLISS)

LONDON (Alliance News) - BlackRock Inc on Monday said it reduced its holding in easyJet PLC to below 5%, whilst at the same time increasing its stake in Inmarsat PLC to 5.1%.BlackRock its a

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24 Sep 2018 12:46

Merchants Trust Outperforms Benchmark In First Half As Chair To Retire

LONDON (Alliance News) - Merchants Trust PLC on Monday said it outperformed its benchmark in the first half of the year, while Chairman Simon Fraser announced he will retire "during the of in

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20 Sep 2018 13:16

Thursday broker round-up

(Sharecast News) - AVEVA Group: Barclays upgrades to overweight with a target price of 3,150p.

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20 Sep 2018 10:30

WINNERS & LOSERS SUMMARY: Rio Tinto Up On Plan To Return Sale Proceeds

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Rio up 1.9%.

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