Shares of Eutelsat surged more than 12% in European trading on Thursday, extending a sharp rally this week as investor enthusiasm around the global space and satellite industry gathered pace ahead of SpaceX's much-anticipated initial public offering.
The Paris-headquartered satellite operator, backed in India through its partnership with Bharti Airtel, has emerged as one of the key beneficiaries of renewed investor interest in the sector. Market participants are increasingly positioning for a broader re-rating of satellite and space-linked companies as SpaceX prepares for what could become one of the largest IPOs in history.
Eutelsat's latest rally adds to strong gains recorded earlier this week, with traders viewing the company as a prominent European alternative in the rapidly expanding satellite communications market. The stock momentum also reflects growing expectations around rising demand for connectivity, broadband-from-space services, and strategic satellite infrastructure across regions.
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The surge comes even as the valuation gap between the two companies remains significant. SpaceX is reportedly targeting a valuation running into trillions of dollars ahead of its listing, while Eutelsat's market capitalisation remains comparatively modest.
Investor appetite for space-related companies has strengthened globally in recent months, driven by optimism around commercial satellite deployment, defence-linked demand, and next-generation communications technologies. Analysts say SpaceX's public market debut could act as a broader catalyst for global satellite and aerospace stocks, especially companies perceived as strategic regional counterparts.
Eutelsat's partnership ecosystem, including collaborations linked to telecom and connectivity markets such as India, has also kept the stock firmly on investor radar amid rising competition in the global satellite broadband race.
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