Citi Raises PT on EchoStar (SATS) stock

In a abstracted update, connected December 22, UBS reduced the terms people connected the company’s banal to $125 from $128, portion keeping a “Neutral” rating, arsenic reported by The Fly.

As per the analyst, aft the merchantability of 75% – 80% of EchoStar Corporation (NASDAQ:SATS)’s spectrum portfolio for ~$43 billion, the institution transitioned from a wireless relation to an concern company. This prompted the valuation shift, assigning $11 cardinal to the remaining spectrum connected the ground of precedents.

Notably, the 3% SpaceX stake, which is present being implied astatine ~$22 cardinal oregon astir $65 per stock utilising $800 cardinal valuation, reflects beardown upside compared to the anterior marks, added UBS.

EchoStar Corporation (NASDAQ:SATS) offers networking technologies and services.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.