Eutelsat share falls 3%, lagging the SBF 120 despite +24% in one week
After a surge at the beginning of last week, the satellite operator's stock is reversing direction downward in a declining Paris market. A brokerage house has also just revised its target, fueling mistrust around the stock.
A decline that does not call into question the weekly rebound
The share price of Eutelsat Communications is falling 3% to €1.71 during the session, after closing at €1.77. The stock ranks in the lower tier of the SBF 120, which is down 1.32% in the same period, while the CAC 40 loses 1.34%. Over seven days, the gain remains over 24%, but it was achieved through highly volatile sessions, following announcements regarding India and then restrictions affecting certain SpaceX military services in Ukraine, discussed in our report on the alternative to Starlink.
In terms of moving averages, the price stands 8.4% above the 20-day MA at €1.58, but remains below the 50-day MA (€1.78), which marks the limit of the rebound. Over one year, the stock is down nearly 40%, and over three months more than 20%.
Goldman Sachs lowers its target to €1.60 and places itself at neutral
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Goldman Sachs has lowered its price target to €1.60, compared to €5.22 previously, with a neutral opinion. This target is approximately 6.6% below the current price, which amounts to leaving no upside potential relative to today's level. The revision, which is quite significant, is dated today.
It comes in the context of a degraded session: the 10-year OAT is at 4.79%, according to the latest reading from the Bank of France on October 16, and weekend violence in France is weighing on the Paris market. The support threshold at €1.37 and resistance at €1.95 frame the trading zone. For analysts, details of the analyst opinions on Eutelsat are available on the website.
SectorTélécommunications›Satellite et connectivité
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Context
Period
Period: FY2027
Guidance from the release
« Eutelsat confirme également ses objectifs pour l'exercice 2028-29 [...] grâce à la forte dynamique des ventes LEO. »
Outlook / guidance
Management commentary: « Eutelsat confirme également ses objectifs pour l'exercice 2028-29, avec des prévisions de chiffre d'affaires des quatre activités opérationnelles comprises entre 1,5 et 1,7 milliard d'euros pour l'exercice clos au 30 juin 2029 grâce à la forte dynamique des ventes LEO. »
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