EchoStar (NASDAQ:ECHO) shares got a boost Tuesday after UBS resumed coverage of the stock with a Buy rating and a $150 price target, sending the stock up 4.2%. The UBS upgrade reflects EchoStar's transformation from wireless operator to investment vehicle, following the company's sale of 75-80% of its spectrum portfolio for roughly $43 billion.EchoStar is set to hold a 2% stake in SpaceX, equal to about 262 million shares, once its pending spectrum transaction closes.
The telecom industry's great balance-sheet reshuffling has entered a new phase.
SATS Ltd. (SPASY) Q1 2027 Earnings Call Prepared Remarks Transcript
Hughes Network Systems, owned by Charlie Ergen's EchoStar, filed for Chapter 11 bankruptcy on Sunday.
AT&T on Tuesday said it completed its $23 billion acquisition of some wireless spectrum licenses from EchoStar under a deal announced in August 2025.
EchoStar's stock has for months been seen as a way to more cheaply get exposure to SpaceX.
EchoStar (SATS) has a sizeable stake in the newly public SpaceX (SPCX) – one that's being largely underappreciated by market participants, says New Street's senior analyst David Barden. In a recent note to clients, Barden raised his price target on the telecommunications firm to $165, indicating potential upside of an exciting 40% on its previous close.
EchoStar Corp (NASDAQ:SATS) is down 4.8% at $120.10, paring some of yesterday's 11.2% rally as investors react to SpaceX's historic initial public offering (IPO).
Space takes over the stock market as investors gear up for rocket and AI company SpaceX's blockbuster trading debut.
SATS targets about $44.65B in transactions with AT&T and SpaceX to monetize spectrum, reduce debt and expand wireless offerings.
SATS' Wireless and Broadband gains lifted OIBDA and narrowed losses, even as Pay-TV and broadband subscriber declines persist.
I've been watching EchoStar (NASDAQ:SATS | SATS Price Prediction) for years as a slow-motion satellite story that never quite worked.