Intelsat Downgraded on Concern About Satellite Launch Delays

Intelsat was downgraded to underperform from neutral by Credit Suisse Group, which forecast in an investor email Friday that revenue will decline 4.6 percent in 2015 and remain 2 percent below 2014 levels in 2016. "Intelsat faces challenges from satellite launch delays, pricing pressure, including on its EPIC platform, slower rollout of 4k distribution, government troop withdrawals and continued pressure on legacy channel and point to point services," wrote analyst Joseph Mastrogiovanni. "The company delayed several satellite launches by at least a quarter." The company's Q4 revenue was $619.1 million, and full-year 2014 revenue was $2.47 billion, Intelsat said in a news release Feb. 18. The satellite company declined to comment.