Leading the SBF 120, SES stock rebounds 5% following Oddo BHF upgrade
The Luxembourg-based satellite operator posts one of the strongest sessions on the Paris exchange, following a dividend payment detached from its price. A change of opinion from a broker renews interest, while the underlying trend remains significantly deteriorated.
A leading session on the SBF 120, with a stock still far from its averages
The SES stock gains 5.24% to €3.90 in trading and records the strongest rise of the SBF 120, which advances 0.21% at mid-day. The stock has been trading ex-dividend since October 14, following the detachment of a dividend of €0.25. Taking this coupon into account, it still shows a decline of 45.7% over three months, which puts today's rebound into perspective.
The price also remains significantly below its 20-day moving average at €3.98 (gap of -2.2%), while the RSI at 29 keeps it in the lower zone. The stock is thus still far from the levels that preceded the slide last spring.
Oddo BHF upgrades to outperform with target raised to €5.80
Oddo BHF upgraded its rating from underperform to outperform on the stock and raised its price target from €5.20 to €5.80. This target leaves a potential of approximately 49% compared to today's price. The analyst consensus on the stock is thus significantly revised upward by this broker, which had previously maintained a very cautious view of the file.
The dividend of €0.25 is moreover paid today, first step of the group's commitment to return cash to shareholders, which also launched in June a share buyback program of €31 million. The next numerical milestone to watch remains the €4.92 level, a resistance threshold identified by the stock's data.
