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EPA:ETL

Eutelsat Communications SA

SPECULATIVE BUY 2026-08-01 Updated today EUR 2.05 Technology - Communication EquipmentAWAIT ENTRY
49

Position levels

Currenttoday
EUR 2.05
Buy <=wait / entry
EUR 1.50
Trim >=take some off
EUR 2.10
Thesis breakA material adverse event such as a covenant breach under existing debt facilitie...
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Scenario-weighted conviction

ProbabilityScoreContribution
Bull case16%100 / 10016.0
Base case48%62 / 10029.8
Bear case36%10 / 1003.6
Weighted conviction49 / 100 - SPECULATIVE BUY

Top risks

  • CENTAURE LEO contract signed with France's defence procurement agency
  • LEO execution risk against Starlink and incoming Amazon Kuiper
  • GEO broadcast video revenue secular decline from OTT migration
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Research is for informational purposes only. Not financial advice. All analysis reflects the date of publication.