Intelsat S.A.: Recent Price Weakness Provides Attractive Entry Point As FCC Proceeding Gains Momentum

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About: Intelsat S.A. (INTEQ)
by: Kerrisdale Capital Management
This article is exclusive for subscribers.
Kerrisdale Capital Management
Hedge Fund Manager, Long/Short Equity, Value, Special Situations
Summary

Recent comments by FCC commissioners indicate an order may be issued “in the coming months”.

Sellside notes have turned increasingly bullish over the past two months.

An incentive auction continues to be an unattractive option relative to the CBA’s market-based approach.

Since our last article on Intelsat (NYSE: I), newsflow has continued to trend positively and point to major positive catalysts over the course of 2018, yet Intelsat shares have tumbled from the mid $20s