SES stock rebounds nearly 6% following Peruvian Navy contract
After several weeks of decline, the Luxembourg-based satellite operator achieves an appreciable rebound in trading on Thursday, September 3rd, while the SBF 120 index remains slightly in the red. The stock benefits from dual support: a freshly announced contract with the Peruvian Navy and an analyst rating upgraded last week.
Peruvian Navy contract and Berenberg rating supporting the rebound
The SES stock gains 5.9% to €4.92 during the session, ranking among the strongest gainers of the SBF 120 while the index declines 0.13%. This rebound follows the announcement this morning of the extension of the satellite connectivity contract with the Peruvian Navy (Marina de Guerra del Perú), covering coastal bases, aircraft and vessels through a combination of geostationary and low-earth orbit. Added to this operational catalyst is a positive signal from analysts: Berenberg raised its price target on September 1st from €9.10 to €10.40, while maintaining its buy rating.
This target represents upside potential of over 110% compared to the current price, demonstrating the still considerable gap between the broker's valuation targets and current market levels. The macro environment remains nonetheless challenging: the rise in global bond yields and military tensions in the Gulf are weighing on European markets this Thursday.
RSI in oversold territory at 25 illustrating the extent of quarterly correction
Despite this rebound, SES remains well below its three moving averages. The price at €4.92 sits beneath the 20-day MA at €5.13 (gap of -4.05%) and well below the 50-day MA at €6.32, which marks a gap of -22.12%. This configuration reflects the severity of the accumulated decline over the quarter, reaching -44.38% over three months. The RSI at 25 remains in marked oversold territory: a level that signals persistent selling exhaustion, but which does not mechanically signal a trend reversal.
The support level at €4.63 now constitutes a reference floor to monitor, particularly as the stock had already approached it during the intense pressure phase of recent weeks. Over one month, the decline remains -14.47%, showing that today's rebound, while significant, erases only a limited portion of the recent correction. Berenberg's buy rating with a €10.40 target sets a medium-term horizon, but the underlying trend remains negative as long as the price does not break back above the 20-day MA.
