Deutsche Bank on Monday renewed its buy recommendation on SES, while lowering its target price on the stock from 9.5 to 8.6 euros.

In a research note, the analyst points out that the satellite operator is currently one of its preferred mid-cap stocks in Europe, due to the payments linked to the additional C-band release in the USA.

While it points out that the use of these funds, which represent some 1.5 billion euros, will not be known until February, DB recalls that the group had promised, when setting up its 150 million euro share buyback program last August, that 'further announcements' of this type were to be expected.

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