Eutelsat: in demand with broker upgrade
(CercleFinance.com) - The share of satellite operator Eutelsat is currently up 4.
6%, leading the SBF120 index, boosted by German broker Berenberg upgrading its rating on the share from "hold" to "buy," having nudged up its corresponding target price from 18.3 euros to 19 euros.
The broker said that “The current perception of Eutelsat is that it faces the same structural issues as listed peers Intelsat and SES, but without the exciting C-band that can help save the day. This broad conclusion creates an attractive entry point”.
"Not only does Eutelsat have different geographic and application exposure to peers - leaving it less exposed to the "really badstuff" - but its focus on cash flow generation is a key differentiator," it continues.
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