Banker Upgrades Intelsat Stock, Doubles Price Target
Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope.
Thursday was a great day for Intelsat (NYSE: I) shareholders, who saw their shares jump nearly 6% on no news at all. But could Friday be even better?
Maybe. This morning, analysts at investment banker Jefferies & Co. announced they are upgrading Intelsat stock to "buy." Furthermore, Jefferies is upping its price target on the stock -- doubling it from $2.50 per share to an even $5. With the stock now selling for $4 a share, that works out to a potential 25% profit for investors buying now. So, great news, right?
Source: Fool.com
