Some Think Intelsat's 500% Rally This Year Is Just the Beginning
- Intelsat raised to outperform with a new price target at RBC
- Management’s $500m raise in early June has investors buying in
Photographer: Simon Dawson/Bloomberg
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If the price is right, come on up. That seems to be the message from Intelsat, a Luxembourg-based satellite telecom company whose stock has blasted off some 450 percent since early April.
Intelsat is 23 percent higher today alone, spurred by the Federal Communications Commission’s likely adoption of its C-band spectrum this week, says RBC Capital Markets analyst Wilton Fry. The stock’s on pace to close at its highest in more than four years.