Satellite operator SES will unveil its latest quarterly numbers on Monday morning (October 6) but investment analysts at Deutsche Bank has upgraded the company with a ‘Buy’ rating, citing growth and margin upside from its recent Intelsat acquisition.

The bank’s new model for the combined firm shows organic topline growth of 2.3 per cent annually, a reversal from SES’s previously anticipated forecast of about 1 per cent decline in FY 2024.

While market focus will be on execution, Deutsche Bank believes the deal’s c.30 per cent capacity increase can deliver growth and cash return upside for the new combined company.

SES has benefited from similar positive reports and its shares have responded. They are up some 9 per cent over the past month.

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Tags: bank, Deutsche Bank, SES