(CercleFinance.com) – The title is down nearly 1% after Berenberg’s analysis. The design office on Wednesday renewed its recommendation to ‘keep’ on Eutelsat Communications, while reducing its price target on the title from 12 to 11.8 euros.
In a research note, the German broker does not hide the boredom that the French satellite operator inspires in him, at least from a stock market point of view.
‘With declining turnover and operating profit (EBITDA) and a change of CEO that could call into question the scenario of a return to growth in 2022/2023, there is not much to be assessed in the investment case that constitutes Eutelsat in itself, ‘says the broker.
“Despite everything, the title is cheap, the group generates cash and could participate in a consolidation movement within the sector,” recognizes Berenberg.
Copyright © 2022 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
