EchoStar price target lowered to $12 from $17 at Citi

Citi analyst Michael Rollins lowered the firm’s price target on EchoStar to $12 from $17 and keeps a Neutral rating on the shares. The firm updated its model to incorporate the company’s Q3 results. EchoStar results “were fine,” while the company is looking for improving contributions from its enterprise and consumer segments in future periods, the analyst tells investors in a research note.