$I seekingalpha.com/instablog/... JPMorgan estimates a 6.5x multiple —> stock is worthless Raymond James estimates a 7.75x multiple —> stock is worth USD 12 Historical multiple of 8x —> stock is worth about USD 14.68 (David Litchfields Opinion) If you take the historical long therm multiple of 9x —> stock is worth about USD 20 EBITDA times the EBITDA multiple minus debt plus cash = worth of the equity. What EBITDA multiple to pick? It's your choice. The S&P 500 is on a 12.9 EBITDA multiple right now. Intelsat has never traded below an 8x multiple in the past.
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