The Luxembourg-based satellite operator continues its recovery in session, following a multi-year contract secured in the United States. The stock confirms the rebound dynamic that began in late June, contrary to the sell-offs observed in June. However, this acceleration comes against the backdrop of a cautious opinion from a major investment bank, published the day before.
A Framework Contract with the US Space Force Supports the Stock's Momentum
SES shares are up 2.1% at €8.28 in session, in an SBF 120 up by 0.45%. The group's defense subsidiary has just secured a five-year framework contract with the US Space Force, covering the provision of managed satellite services in Ku-band to various branches of the US Department of Defense. The stock extends its advance to nearly 21% over a week and 30% over three months, largely erasing the severe correction suffered in June. This progression is part of a fundamental movement: the stock had already soared by 7.5% on July 3, before continuing its rebound.
The context of analyst opinions remains nuanced, however. Barclays issued a price target of €7.05 on July 6 with an 'underweight' rating, indicating a potential downside of about 15% from the current price. This cautious opinion contrasts with the acceleration observed in session.
The Stock Significantly Exceeds Its Three Moving Averages
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The recovery is clearly visible in the technical configuration. At €8.28, the price is above the MM20 (€7.53), MM50 (€7.89), and MM200 (€6.58), with a gap of nearly 26% above the latter. The crossing of the MM50, lost for several weeks during the correction in June, is now consolidated.
The RSI at 57 remains in a neutral zone, which leaves room for maneuver before a possible overbought configuration. The resistance identified at €9.89 is the next numerical marker above the current prices, while the support at €6.63 has moved away with the rebound in recent sessions.
SectorTélécommunications›Équipements de Télécommunications
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Context
Period
Period: 3T/9M 2025
Guidance from the release
I am pleased to report our solid 9 months 2025 results which include the first quarter for the combined company following the successful close of the Intelsat acquisition on 17 July 2025.
Croissance tirée par le segment Networks (Aviation, Government), intégration d'Intelsat en bonne voie, carnet de commandes brut de €7,1 billion, lancements O3b mPOWER 9 & 10 réussis et règlement d'assurance partiel d'environ $87 million.
Risks mentioned
Risque de ne pas atteindre les synergies attendues de l’acquisition d’Intelsat
Retards ou échecs de lancements ou problèmes opérationnels des satellites
Risques réglementaires et obtention d’approbations
Pressions concurrentielles et évolution technologique réduisant la demande
Opportunities identified
Positionnement multi-orbit renforcé pour capter la croissance longue durée
Expansion du business Aviation (plus de 3,000 tails; 200 nouveaux tails gagnés depuis clôture)
Augmentation de capacité et résilience avec les satellites O3b mPOWER supplémentaires
Carnet de commandes et renouvellements importants (nouveau business et renewals > €1,4 billion YTD)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
