SES shares jump 5.4% on Ukraine's Starlink restrictions
SES shares rose 5.4% today to €4.24 before settling at €4.13, following Ukraine's announcement of potential restrictions on Starlink's military satellite network Starshield, which could benefit SES as a competitor. The stock's recovery comes after a difficult period since late July, when disappointing Q2 results showed a 5% revenue decline and 6.2% EBITDA contraction. Investors are positioning ahead of the early November earnings report, supported by a €6.4 billion order backlog including a nearly completed European satellite contract. Analyst consensus price targets range from €7.69 to €8.06, significantly above current trading levels, suggesting the stock remains undervalued. The broader French market and global equities provided a supportive backdrop, with the CAC 40 and SBF 120 closing higher.