Eutelsat: Barclays welcomes contract renewal
(CercleFinance.com) - Barclays reinstates its "overweight" recommendation and target price of 10.
35 euros for the Eutelsat share, after Sky Italia renewed its contract with the satellite operator to broadcast its programmes through Hotbird.
"This renewal has been in focus for investors for several years, given that both Sky UK and Canal+ have suggested in recent years that they had made good savings in their renewals with SES," the broker said.
"The good news is that Eutelsat is pointing to the renewal being “broadly flat” in terms of revenue for Eutelsat in the medium term," it continues, noting that in the past, when Eutelsat management has referred to revenues being broadly stable, "this could be down slightly but not more than 1-2pts".
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
35 euros for the Eutelsat share, after Sky Italia renewed its contract with the satellite operator to broadcast its programmes through Hotbird.
"This renewal has been in focus for investors for several years, given that both Sky UK and Canal+ have suggested in recent years that they had made good savings in their renewals with SES," the broker said.
"The good news is that Eutelsat is pointing to the renewal being “broadly flat” in terms of revenue for Eutelsat in the medium term," it continues, noting that in the past, when Eutelsat management has referred to revenues being broadly stable, "this could be down slightly but not more than 1-2pts".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.