Deutsche Bank reiterates buy on Inmarsat following deployment of S-band satellite

Analysts at Deutsche Bank reiterated their 'buy' recommendation on shares of Inmarsat following the successful launch of its S-band satellite for the EAN network.

With IAG already onboard as its anchor customer, the broker expected more airlines to sign-up over the coming months.

The EAN combined the S-band staellite with a mobile terrestrial network or 'complementary aviation ground component', allowing commercial and business airlines to offer mobile satellite services to airlines flying over the most frequented European routes.

In a nutshell, the broker expected to see the same chain of events at Inmarsat as occured with its Global Xpress network.

Once its satellites had been launched and the system was operational, the airline contract wins followed.

Deutsche Bank reiterated its 1,020p target price too.

"We expect a similar situation with the EAN; in the coming months we expect sign-ups and note that apart from Eurowings, the European lowcost carriers have yet to sign up."