EchoStar price target raised to $28 from $15 at UBS

UBS raised the firm’s price target on EchoStar (SATS) to $28 from $15 and keeps a Neutral rating on the shares. Efforts to scale the wireless business and secular pressures facing Pay TV are likely to keep free cash flow losses elevated in 2025, the analyst tells investors in a research note. At the same time, UBS believes recent financing transactions provide EchoStar with the runway to pursue its business model while a shortage of new spectrum from the government and new regulatory oversight bring the potential monetization and valuation of EchoStar’s wireless holdings back into focus.