(News Bulletin 247) – Berenberg announced on Thursday that it had lowered its target price on SES, which it reduced from 9.2 to 7.8 euros while maintaining its buy recommendation on the stock.
In a research note, the design office recalls that the Luxembourg group has disappointed recently, a phenomenon which it explains by the frequent postponement of its satellite launches.
According to Berenberg, the finding could be repeated during the presentation of the first quarter results, scheduled for May 4, with a risk of delay in the third quarter of the launch date of the O3b mPower 5 and 6 devices.
The analyst is nevertheless optimistic on a horizon of six to 12 months, recalling that the operator must still receive, by the end of the financial year, the compensation linked to the release of the C band in the United States. .
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