UBS analyst John Hodulik raised the firm’s price target on EchoStar (SATS) to $127 from $125 and keeps a Neutral rating on the shares. The Q4 results were mixed, with Pay TV declines accelerating but wireless losses improving as EchoStar transitions to an MVNO-focused strategy, the analyst tells investors in a research note. Attention remains on the value of non-operating assets, including its SpaceX stake, $32B in gross proceeds from completed spectrum sales, and remaining spectrum holdings, UBS says.
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