Telesat (NASDAQ:TSAT) Price Target Raised to $37.00 at Deutsche Bank Aktiengesellschaft

Telesat (NASDAQ:TSAT) had its price objective upped by Deutsche Bank Aktiengesellschaft from $19.00 to $37.00 in a research report released on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Telesat in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $37.00.

Telesat Trading Down 1.8%

NASDAQ:TSAT opened at $39.68 on Thursday. The company’s 50 day moving average price is $31.40 and its 200-day moving average price is $29.08. Telesat has a 52 week low of $14.77 and a 52 week high of $43.82. The company has a quick ratio of 4.11, a current ratio of 0.25 and a debt-to-equity ratio of 0.66. The stock has a market cap of $563.06 million, a price-to-earnings ratio of -5.25 and a beta of 1.95.

Institutional Trading of Telesat

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Telesat by 32.2% in the 4th quarter. Royal Bank of Canada now owns 2,922 shares of the company’s stock worth $85,000 after buying an additional 712 shares during the period. Penserra Capital Management LLC raised its holdings in Telesat by 4.5% during the third quarter. Penserra Capital Management LLC now owns 29,995 shares of the company’s stock valued at $794,000 after acquiring an additional 1,280 shares during the period. Acadian Asset Management LLC raised its holdings in Telesat by 63.3% during the first quarter. Acadian Asset Management LLC now owns 6,381 shares of the company’s stock valued at $119,000 after acquiring an additional 2,473 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Telesat by 1,335.3% in the third quarter. BNP Paribas Financial Markets now owns 3,818 shares of the company’s stock valued at $101,000 after acquiring an additional 3,552 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its position in shares of Telesat by 19.4% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 24,668 shares of the company’s stock valued at $680,000 after acquiring an additional 4,000 shares in the last quarter.

Telesat Company Profile

Telesat is a leading global satellite operator that designs, builds and delivers high-performance satellite communications solutions across multiple markets. The company operates a fleet of geostationary satellites to provide video distribution, data networking and managed broadband services to media companies, network operators, governments and enterprise customers. Telesat’s infrastructure supports television distribution, cellular backhaul, rural broadband and corporate network applications.

In addition to its geostationary offerings, Telesat is developing a low Earth orbit (LEO) satellite constellation known as Lightspeed.