What happened Up 20% on Friday, down 40% on Monday -- if you're a momentum kind of investor, trading on volatility, you've got to love Intelsat (NYSE: I) stock, which is producing big opportunities to profit on both the up- and downsides daily. Today's gains look to be on the upside, with Intelsat stock bouncing up a good 16.3% as of 11 a.m. EST. You can thank investment banker Raymond James for this. Image source: Getty Images. So what Impossible as it may seem to predict whether any given day will be incredibly good or disastrously bad for Intelsat, this morning Raymond James made the argument that, with Intelsat stock off about 75% over the past 10 days, a lot of risk has been squeezed out of the stock, leaving more room for upside than downside. As the analyst explained: The initial plan in Congress was to permit an auction (either public or private) of C-band wireless spectrum by Intelsat and its fellow satcom companies, with the companies handing over 25% of the proceeds to the U.S. Treasury. More recent developments in the U.S. Senate now lean toward a public auction (which could take longer to complete) -- and a 50% handover of net proceeds to the government. Now what Inasmuch as past auctions, however, averaged "gov't stakes of ~20-40%," Raymond James is betting that "that is a more likely final outcome." And if this proves to be the case, the sell-off in Intelsat stock may be overdone, because once the dust settles, Intelsat should come out of this process with more money than investors are giving it credit for currently. Accordingly, Raymond James is upgrading Intelsat stock to outperform with a price target -- and investors are taking their cue from that upgrade, and buying Intelsat stock again. 10 stocks we like better than IntelsatWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Intelsat wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 1, 2019 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source