Bank upgrades SES

SES’s share price is currently at about €6.60, itself an improvement on typical prices of nearer €6.18. But a report from analysts at Berenberg Bank recommends clients ‘BUY’ SES and gives a target share price of €9.20. Good as this sounds (for investors) the new target price is lower than the bank’s previous guidance (which was €11.20) and largely down to the recent weakness of the US dollar when measured against the Euro. The bank also suggests that SES will further improve its dividend to shareholders next year (possibly by an extra 20 per cent).

Source: Bank upgrades SES