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Inmarsat: shares fall after analyst's downgrade.

(CercleFinance.com) - Inmarsat shares are down over 6% on Friday, after UBS cut the British satellite operator's rating to sell, saying that near-term risks outweigh long-term potential.


On the London Stock Exchange, the shares were down 6.4% at 609 pence in early afternoon trading, after dipping as low as 607 pence at one point.

In a research note issued this morning, UBS downgraded its rating on the stock from "neutral" to "sell," with a reduced target price of 550 pence, versus 810 pence previously.

After conducting a survey of 49 fleet communications procurement managers, UBS says that the company's maritime business (50% of group revenue) could report Ebitda that is 4-9% below the consensus over 2018-2020.

The brokerage firm - which also sees near-term risks to dividend and revenue guidance - hence expects consensus estimates to fall over the next 12-18 months.

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