Intelsat Wall Street cheer at last
May 30, 2013
By Chris Forrester
A month ago, satellite giant Intelsat disappointed Wall Street by setting its Initial Public Offering at just $18 a share, well below the anticipated level of $21-$25. At the end of the day, Intelsat banked $348 million, and did its best to take a pragmatic outlook on what had not been the easiest of times for the operator.
Now, six weeks later, the situation looks altogether better. Intelsat’s share price is at $24.27, and has been in the $23+ position for the past two weeks.
Moreover, a slew of financial analysts have reported on the company. Here’s a summary of their analysis:
Morgan Stanley – Equal Weight
Nomura – Buy
JP Morgan-Chase – Overweight
Bank of America – Buy
Credit Suisse – Neutral
Deutsche Bank – Hold
UBS – Buy