EchoStar extends rally after AT&T spectrum deal
27/08/2025 18:06
** EchoStar's SATS.O shares up 16.4% to $59.21 and hit fresh record high on Weds, a day after spectrum licenses deal with AT&T T.N announced ** SATS shares on Tues closed up 70% after co agreed to sell wireless spectrum licenses for $23 bln to AT&T as it faces scrutiny from government regulators and after President Donald Trump urged a deal ** In Jun, Dish TV parent EchoStar said Trump prodded it and Federal Communications Commission Chair Brendan Carr to reach an amicable deal over the fate of the co's wireless spectrum licenses ** TD Cowen hiked its PT from $28 to $67, saying the deal "unlocks the ability to sell spectrum to the Big 3 as we believe all three are better positioned and now avid and willing buyers" ** Deutsche Bank raised its PT from $43 to $67, in a tie for Street-high, per LSEG ** After the bell Tues, SATS shares rose following report that Elon Musk's Starlink and T-Mobile US TMUS.O have shown interest in acquiring some or all of EchoStar's spectrum ** With move on Weds, SATS shares up about 160% YTD and have quadrupled from their 2025 lows hit in early Jun ** 2 of 7 brokerages rate SATS "buy" and 5 have "hold"; median PT is $43.75 (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com ; 1-646-279-6380))