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Intelsat +9% as RBC raises to Outperform on C-band prospects

Jun. 20, 2018 9:29 AM ETIntelsat S.A. (INTEQ) StockSGBAF, INTEQBy: Jason Aycock, SA News Editor7 Comments
  • 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.

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