<strong>INMARSAT</strong><strong></strong><br />Investec downgraded Inmarsat to “hold,” saying the company’s launch of its global satellite phone services (GSPS) and in-flight mobile services have presented significant long-term growth opportunities. This combined with the potent mix of Inmarsat’s high operational leverage and underlying fundamentals have driven the broker to upgrade its assessment, with the target price rising from 650p to 700p. <br /><br /><strong>HASGROVE</strong><br />KBC Peel Hunt said it has downgraded Hasgrove to “hold” and cut its profit before tax by 40 per cent to £2.6m after the company fell short on two major contracts which it had hoped would start in the current year. The broker also said the company has been successful in winning new business, yet the effort has cost the company £0.7m, while additional recruitment expenses have cost a further £0.25m.<br /><br /><strong>INTERTEK</strong><br />Societe Generale increased its target price for Intertek to 1,490p from 1,430p and maintained its “buy” rating, based on the company’s resilience in activities at the top line and at margin level. Ten-month revenue to end October rose 28 per cent, while organic growth revenue was weaker than expected in the second half due in part to the firm’s exposure to trade inspection, which has been hit by a slowdown in world trade volumes.