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BUZZ-Inmarsat: hits 2-year low on JPM downgrade

Reuters - UK Focus

** Satellite co Inmarsat (Other OTC: IMASF - news) falls as much as 6.5 pct to lows not seen since October 2014, after JPM downgrades to "neutral" from "overweight"

** Broker says rising investment needs in its aviation division likely to dent earnings near-term

** Adds co also struggling with ongoing legacy issues

** Second top faller on Stoxx 600

** Follows Citi downgrade to "neutral" v "buy" last week (cost likely to outpace revenue in 2017)

** Short interest has been building at hedge funds with significant shorts now above 3 pct - an all-time high

** Argonaut's Barry Norris has previously questioned company's competitiveness as well as problems in its maritime division