Morgan Stanley Upgrades Intelsat (I) to “Equal Weight”
Morgan Stanley upgraded shares of Intelsat (NYSE:I) from an underweight rating to an equal weight rating in a research report released on Monday, Marketbeat Ratings reports. Morgan Stanley currently has $28.00 price target on the technology company’s stock.
A number of other analysts also recently issued reports on I. Zacks Investment Research downgraded shares of Intelsat from a buy rating to a hold rating in a report on Friday, August 3rd. Goldman Sachs Group reiterated a neutral rating and issued a $31.00 price objective on shares of Intelsat in a report on Monday, October 22nd. Finally, Jefferies Financial Group reiterated a buy rating on shares of Intelsat in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $23.80.
NYSE I opened at $25.36 on Monday. Intelsat has a 12-month low of $2.44 and a 12-month high of $37.70. The company has a market capitalization of $3.43 billion, a PE ratio of -14.92 and a beta of 1.31.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Intelsat during the second quarter worth $102,000. The Manufacturers Life Insurance Company increased its holdings in Intelsat by 355.4% during the first quarter. The Manufacturers Life Insurance Company now owns 28,223 shares of the technology company’s stock worth $106,000 after buying an additional 22,025 shares during the last quarter. Girard Partners LTD. acquired a new position in Intelsat during the third quarter worth $120,000. SG Americas Securities LLC acquired a new position in Intelsat during the second quarter worth $122,000. Finally, Macquarie Group Ltd. acquired a new position in Intelsat during the second quarter worth $148,000. Institutional investors and hedge funds own 50.14% of the company’s stock.
Intelsat SA, through its subsidiaries, provides satellite communications services worldwide. The company offers a range of communications services to media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, multinational corporations, and Internet service providers; and commercial satellite communication services to the U.S.
See Also: How Short Selling Works
Receive News & Ratings for Intelsat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intelsat and related companies with MarketBeat.com's FREE daily email newsletter.