SES “Not compelling” says bank:
3rd downgrade from Morgan Stanley
A major 27-page investment bank report following SES Global’s recent half-year results said they found the company’s medium term valuation “not compelling” and resulted in a further ‘downgrade’, the third successive downgrade from the bank. Morgan Stanley, long a fan of Eutelsat, has held to that view saying: “Eutelsat represents a more robust investment proposition in our view. SES has entered an investment phase and focus is now on progress in the German market with the successful execution of Project Dolphin.” However, the bank report admits that SES Global’s 1H results were “strong” and ahead of their own estimates and that of the market. The full story is available only to subscribers. Click Here for Details

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