Eutelsat stock at the bottom of the SBF 120, Goldman Sachs lowers its target
The satellite operator's stock is declining in mid-afternoon trading, following a sharp rally last week. A major broker has just revised its target, while the Paris market remains oriented downward.
Goldman Sachs lowers its price target to €1.60 with a neutral rating
The Eutelsat stock is losing 3.65% to €1.67 in an SBF 120 declining by 0.69%. It ranks at the bottom of the index, far from the day's strongest gains. Goldman Sachs published on October 19 a price target of €1.60, compared to €5.22 previously, with a neutral opinion.
This target is approximately 4.4% below the current price, leaving little theoretical upside according to this brokerage. Today's decline comes after a highly volatile week: the stock still gains 18.64% over seven days, but loses 4.51% over one month. The surge on October 14, driven by prospects for OneWeb authorizations in India ahead of Starlink, followed by the October 16 movement linked to restrictions affecting certain SpaceX military services in Ukraine, subsequently eroded.
A price trapped between the 20-day and 50-day moving averages after a weekly rebound
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On the moving averages front, the price remains above the 20-day MA (€1.58, difference of +5.95%), which supported the recent rebound. It remains below the 50-day MA (€1.78, difference of -5.96%), which the stock has failed to recover. The RSI at 54.68 remains neutral and signals neither overbought nor oversold conditions.
On the support side, the €1.37 zone was abandoned on October 13 before the rebound, and resistance stands at €1.95. The next concrete reference point is therefore the 50-day MA at €1.78, which the stock must reclaim to continue last week's momentum.
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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