Amid the market turmoil, Eutelsat shares remain elevated on expectations of additional EU support for OneWeb/ IRIS2. In this note we discuss what form EU support could take and implications for valuation. We downgrade our equity recommendation to Sell, leaving our price target unchanged at €1.4/ share. We upgrade our bond recommendation to Overweight.
PARIS--(BUSINESS WIRE)-- Regulatory News: Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) and Türksat announce a new multi-million-dollar, multi-year agreement between for Ka band services on Eutelsat’s KONNECT VHTS satellite. Under the agreement, Türksat will leverage multiple beams over Europe to provide services to airlines. Türksat is one of the world's leading satellite operators, delivering multiple satellite connectivity solutions over its own fleet, as well as third party satellites. KONNECT VHTS entered into service in October 2023 to address the E...
PARIS--(BUSINESS WIRE)-- Regulatory News: Eutelsat Group (ISIN : FR0010221234 - Euronext Paris / London Stock Exchange : ETL) vient de signer avec Türksat un nouvel accord pluriannuel portant sur plusieurs millions de dollars, en vue de la fourniture de capacités en bande Ka à bord du satellite EUTELSAT KONNECT VHTS. L'accord permettra à Türksat d'exploiter plusieurs faisceaux desservant l'Europe en vue de répondre à la demande des compagnies aériennes en matière de services de connectivité en vol. Opérateur de satellites d'envergure mondiale, Türksat propose un large éventail de solutions d...
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