(CercleFinance.com) – SES rebounded on Friday after its sharp decline the day before caused by disappointing results, the stock benefiting from cheap purchases while an analyst judges the satellite operator ‘cheap’.
After a difficult session on Thursday, which saw the value fall by 5% following a poorly received results publication, a hunt for bargains seems to be taking place at a time when Barclays highlights the weakness of its valuation.
‘SES delivers at the turnover level,’ says the research office, noting that the group’s activity exceeded market forecasts for the eighth consecutive time in the 4th quarter of 2023.
‘And its revenue prospects for 2024 are, when we look at the middle of the range, 3.5% above the consensus’, argues Barclays, which maintains its ‘overweight’ advice with a price target raised to 7 .2 to 7.8 euros.
“It’s still not bad for such a cheap value,” continues the intermediary, who highlights an Enterprise Value/Ebitda ratio of 4.5x, to be compared with 6.1x for its main European comparables. .
The SES stock has recovered a little since its historic lows reached in June 2023, below the five euro mark, but continues to evolve at low levels compared to its peaks recorded during 2015.