JPMorgan initiated coverage of EchoStar with a Neutral rating and $18 price target. EchoStar merged with Dish Network and the combined company will benefit from greater scale with subscriber bases and market opportunities across video, satellite and wireless, the analyst tells investors in a research note. However, despite better liquidity, the new EchoStar still faces significant challenges from consistent subscriber losses for Dish’s PayTV segment and challenged trends in EchoStar’s broadband business, says the firm.
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