Berenberg Bank Upgrades Inmarsat Plc (ISAT) to “Hold”

Inmarsat Plc (LON:ISAT) was upgraded by equities researchers at Berenberg Bank to a “hold” rating in a research report issued to clients and investors on Thursday. The firm currently has a GBX 640 ($8.45) price target on the stock, down from their prior price target of GBX 680 ($8.97). Berenberg Bank’s price objective would suggest a potential upside of 3.06% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Deutsche Bank AG reissued a “buy” rating and issued a GBX 1,010 ($13.33) price objective on shares of Inmarsat Plc in a research report on Wednesday, October 11th. Jefferies Group LLC cut their price objective on shares of Inmarsat Plc from GBX 1,245 ($16.43) to GBX 1,100 ($14.52) and set a “buy” rating for the company in a research report on Friday, September 8th. Goldman Sachs Group, Inc. (The) cut their price objective on shares of Inmarsat Plc from GBX 960 ($12.67) to GBX 920 ($12.14) and set a “buy” rating for the company in a research report on Friday, July 14th. HSBC Holdings plc dropped their price target on shares of Inmarsat Plc from GBX 850 ($11.22) to GBX 830 ($10.95) and set a “hold” rating for the company in a research report on Friday, July 21st. Finally, J P Morgan Chase & Co upped their price target on shares of Inmarsat Plc from GBX 840 ($11.08) to GBX 850 ($11.22) and gave the stock a “neutral” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Inmarsat Plc currently has an average rating of “Hold” and a consensus target price of GBX 828.57 ($10.93).

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In other news, insider Simon Bax bought 2,500 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of GBX 646 ($8.52) per share, for a total transaction of £16,150 ($21,311.69).

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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