BofA/Merrill Lynch Downgrades Intelsat S.A (I) to Neutral

BofA/Merrill Lynch downgraded Intelsat S.A (NYSE: I) from Buy to Neutral with a price target of $15.00 (from $30.00).

Analyst Michael Funk notes the company is exposed to secular pressures that degrades their FCB-based investment thesis. The company is exposed to 1) fiber substitution; 2) U.S. government spending cuts; and 3) currency headwinds.

The firm cu FY 2015 EPS from $2.66 to $1.87, FY 2016 EPS from $3.08 to $2.20 and FY 2017 EPS from $4.28 to $3.01.

For an analyst ratings summary and ratings history on Intelsat S.A click here. For more ratings news on Intelsat S.A click here.

Shares of Intelsat S.A closed at $13.19 yesterday.

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