Barclays Capital has upgraded its investment rating on Inmarsat (LON:ISAT) to ‘equal weight’ from ‘underweight’ after the satellite services provider reported better than expected third-quarter numbers, stating that the risk/reward now appears balanced.
The broker added that high execution risk, rising competition and a valuation that still factors in sustained growth acceleration prevents it from adopting a more positive stance.
Analysts have raised their price target by 15 per cent to 860 pence a share (from 745 pence), implying around 12 per cent potential upside.
At 2:14pm: (LON:ISAT) Inmarsat PLC share price was +15.25p at 782.75p
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