(CercleFinance.com) – Eutelsat sheds about 1% in Paris, as AlphaValue announced earlier in the day to lower its recommendation on the stock to ‘accumulate’, against ‘buy’ so far, while maintaining its objective course of 12 euros.
In a research note, the Parisian design office justifies its decision by the deterioration of the satellite operator’s prospects, in particular on the side of the video market which represents 60% of the group’s turnover.
While it was counting so far on a 4% decline in this activity over the 2021-2022 financial year, AlphaValue now says it anticipates a decline of around 6.5%.
The independent firm also explains that it fears a number of short-term difficulties concerning the global Internet project OneWeb, in which Eutelsat has taken a stake due to the suspension of Russian launchers and the delay in the European rocket Ariane 6.
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