SES: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse has raised its target price for the share of satellite operator SES from 10.
50 euros to 11 euros ((current price: 7.25 euros, +3%), confirming its Outperform rating on the stock.

"Our sum of the parts valuation has been updated to reflect the improved visibility on C-Band cash payments given at Q4 20 results," the analyst said.

"SES continues to be our preferred European satellite stock. We continue to have a positive outlook on the Networks business post 2021 although we expect the segment to still be heavily affected by the pandemic this year," Credit Suisse adds.

"SES currently trades on a 6.8x adjusted 2021E EV/EBITDA multiple with the sector trading on 6.3x".


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