- Intelsat (NYSE:I) is up 9% premarket after an upgrade to Outperform at RBC.
- Analyst Wilton Fry expects the FCC to take up the proposal to monetize C-band spectrum put forward by Intelsat and SES (OTCPK:SGBAF), and that's worth a conservative $19/share. The draft NPRM from the FCC comes ahead of what he expects is a 75% chance of full adoption, implying $14.50/share in spectrum value. (h/t Bloomberg)
- Correspondingly, he's booted his price target on Intelsat to a Street-high $30 from $5. Shares closed yesterday at $16.06.