One month ago, nearly to the day, analysts at Jefferies & Co. made the bold prediction that shares of satellite-communications company Intelsat (NYSE: I), then trading for about $4 a share, would hit $5 within a year. After jumping 11% in a matter of hours Tuesday, Intelsat stock has already met that goal — and beaten it.
What sent Intelsat stock soaring today? It’s hard to be 100% certain, but here’s an educated guess.