Inmarsat tumbles as Goldman cuts expectations until late 2018 [Seeking Alpha]
INMARSAT PLC ADR (IMASY)
NASDAQ:AMEX Investor Relations:
investors.inmarsat.com
Company Research
Source: Seeking Alpha
Inmarsat tumbles as Goldman cuts expectations until late 2018Inmarsat (OTCPK:IMASY) is5.8% lower in U.S. trading (anddown 8% in London) amid a Goldman Sachs downgrade to Neutral on low optimism for an earnings turnaround.The company's dividend has "broadly been uncovered" by free cash flow since 2011, Goldman notes, and Inmarsat is seeing higher costs in building out its in-flight connectivity business along with legacy declines. (h/t Bloomberg)There's limited scope for positive momentum in earnings until late 2018, Goldman says.The firm has cut its price target to 580 pence from 860 pence, implying 19% upside from yesterday's close.See all stocks on the move »
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