EchoStar Corp (NASDAQ:SATS) shares rose sharply during Wednesday's session, driven by a landmark $23 billion deal to sell a significant portion of its wireless spectrum portfolio to AT&T Inc (NYSE:T).
The agreement with AT&T involves an all-cash transaction for EchoStar's 3.45 GHz and 600 MHz spectrum licenses. Per a Tuesday press release, the sale will provide AT&T with mid-band and low-band airwaves to bolster its 5G network and fiber infrastructure. The AT&T deal is expected to close by mid-2026, pending regulatory approval.
EchoStar shares jumped 14.5% to $58.32 on Wednesday.
These analysts made changes to their price targets on EchoStar following the announcement.
- TD Cowen analyst Gregory Williams maintained EchoStar with a Buy and raised the price target from $28 to $67.
- Deutsche Bank analyst Bryan Kraft maintained the stock with a Buy and raised the price target from $43 to $67.
- Morgan Stanley analyst Benjamin Swinburne maintained EchoStar with an Equal-Weight rating and raised the price target from $25 to $59.
Considering buying SATS stock? Here’s what analysts think:
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