TD Cowen raised the firm’s price target on EchoStar (SATS) to $67 from $28 and keeps a Buy rating on the shares. The company unlocked shareholder value by selling 38% of its spectrum to AT&T (T) for $22.6B, the analyst tells investors in a research note. TD cites EchoStar’s clearing of debt and the “unlocked” $1.40-plus value marker for the remaining spectrum. The firm previously valued the spectrum at 70c per megahertz .
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