The stock market has shown mixed reactions with last weel’s financial half-year statement from Eutelsat CEO Rodolphe Belmer. Its share price, having risen dramatically by €2 on February 16th fell back 53 cents on February 19th (2.79 per cent) indicating that Eutelsat is not out of the woods just yet.

Perhaps one catalyst was a report from equity analysts at Berenberg Bank which despite agreeing that Belmer’s overview of Eutelsat’s progress was “reassuring”, also cautioned that “we should not get carried away” and cites the 6 per cent like-by-like decline in revenues as a “stark reminder of the difficulties that Eutelsat is currently facing”.

The bank admits that the current half-year for the Paris-based satellite operator (to June 30th) looks better. “That said, at this stage, having been promised better growth before, we prefer to err on the side of caution and adopt a ‘wait and see’ approach.”

“[We] would like to see the company meet our near-term expectations of improved growth before accepting the worst is behind us. We thus reiterate our Hold rating with a price target of €20.30.”

Other posts by :

1. Italy joins Germany in IRIS2 alternate thoughts
2. Kazakhstan to create museum at Yuri Gagarin launch site
3. AST SpaceMobile gets $42 or $1500 price target
4. Analyst: GEO bloodbath taking place
5. SES AGM results: Appaloosa still objecting
6. SpaceX’s Shotwell worth $1.2bn
7. SpinLaunch’s revolutionary plan for 280 satellites
8. Consolidation impacts satellite sector
9. Project Kuiper plans first satellite launch

Categories: Blogs, Business, DTH/Satellite, Inside Satellite