SES: SG cuts target price sharply.
(CercleFinance.com) - Société Générale (SG) analysts maintain their buy rating on the fiduciary deposit receipts (FDR, according to the American acronym) of the Luxembourg satellite operator SES.
However, the broker has cut its 12-month target price for the share by 18.5%, from 27.5 euros to 22.4 euros.
What about SES's interim results? "SES's execution was in line with expectations in Q2 17", SG believes, mentioning figures that are "broadly in line" with the consensus.
However, “the earnings report brought to light substantial near-term revenue headwinds with additional existing infrastructure failures, and a slippage in the timing of future satellite launches (due to issues at launchers, outside of SES's control).”
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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.
However, the broker has cut its 12-month target price for the share by 18.5%, from 27.5 euros to 22.4 euros.
What about SES's interim results? "SES's execution was in line with expectations in Q2 17", SG believes, mentioning figures that are "broadly in line" with the consensus.
However, “the earnings report brought to light substantial near-term revenue headwinds with additional existing infrastructure failures, and a slippage in the timing of future satellite launches (due to issues at launchers, outside of SES's control).”
Copyright (c) 2017 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.