Analyst Benjamin Swinburne of Morgan Stanley maintained a Hold rating on Echostar (SATS – Research Report), with a price target of $14.25.
Benjamin Swinburne has assigned a Hold rating to Echostar’s stock, a decision that appears to be influenced by a variety of elements under consideration. His analysis likely encompasses an assessment of both potential risks and rewards associated with the stock, taking into account the current market status and the company’s specific circumstances.
The rationale behind the Hold rating could be related to recent developments, such as the anticipated merger between DISH and Echostar set to conclude at the end of the year. This strategic move has implications for the company’s valuation and future prospects, which Swinburne would have evaluated thoroughly to determine the appropriateness of the Hold recommendation.
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Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SATS in relation to earlier this year.
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Echostar (SATS) Company Description:
EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Hughes, and EchoStar Satellite Services. The Hughes segment provides broadband satellite technologies and broadband services to home and small office customers and network technologies, managed services, and communication solutions. The ESS segment owns and leases in-orbit satellites and licenses to lease capacity on a full time and occasional use. The company was founded by Charlie William Ergen, Candy Ergen, and James DeFranco in 1980 and is headquartered in Englewood, CO.
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