Eutelsat Shares Climb to €2.85: BNP Paribas Exane Raises Target to €2.70
Eutelsat Communications' stock is up 1.21% at €2.85 midday in a downward trending Paris market. The stock is among the top performers in the SBF 120, even as the index drops 0.75%. BNP Paribas Exane has just raised its price target on the stock.
BNP Paribas Exane Raises Target from €2.10 to €2.70 on Eutelsat
This Monday, BNP Paribas Exane raised its price target on Eutelsat from €2.10 to €2.70, while maintaining a neutral rating. The new target remains below the current price of €2.85, implying a potential downside of -5.3%. The adjustment follows the third-quarter revenue announcement on May 12, which confirmed the strong performance of the LEO segment (+65% year-over-year) and a decline in the Video division (-13.3%). The company reaffirmed its 2025-26 targets at that time. The report also noted a negative currency impact of €42 million over the first nine months. The stock has now gained +33.3% over three months. Net short positions reported are 2.17% of the capital, down 0.20 points over a month. The two main short sellers are Qube Research & Technologies (1.19%) and Millennium International Management (0.98%).
Stock Rebounds Above All Its Moving Averages, RSI at 55
Eutelsat now trades above all three of its key moving averages. The price is 6.82% above the 200-day moving average (€2.67) and nearly 18% above the 50-day moving average (€2.42), indicating a strong recovery over the last three months. The 20-day moving average at €2.82 is just below the current price, suggesting that last week's consolidation (-4.74% on May 15) did not break the short-term trend. The RSI at 55 remains neutral, showing no signs of exhaustion. The stock is positioned mid-way in the Bollinger Bands (56%), with resistance identified at €3.02, a level tested several times in April and early May. The financial calendar indicates that the annual 2025-26 results will be published on August 7, 2026.
