Analyst Gregory Williams of TD Cowen maintained a Buy rating on Echostar (SATS – Research Report), reducing the price target to $28.00.
Gregory Williams has given his Buy rating due to a combination of factors influencing Echostar’s performance. The company has demonstrated strong momentum in its wireless segment, achieving a record high in wireless subscriber additions, which suggests a positive trajectory for future growth. Additionally, the company has managed to maintain solid churn rates despite some losses in PayTV subscribers, indicating stability in its customer base.
Furthermore, Echostar is in a favorable financial position with ample cash reserves and unencumbered spectrum, providing strategic flexibility for potential partnerships or asset sales. The company’s efforts in enhancing its wireless network and offering competitive unlimited plans are well-timed, particularly in an uncertain economic environment. These factors, along with potential catalysts such as changes in CBRS regulations, contribute to the positive outlook and justify the Buy rating.
Williams covers the Communication Services sector, focusing on stocks such as Cogent Comms, Cable ONE, and Altice Usa. According to TipRanks, Williams has an average return of -3.3% and a 45.64% success rate on recommended stocks.