EchoStar price target lowered to $12 from $18 at JPMorgan

JPMorgan lowered the firm’s price target on EchoStar to $12 from $18 and keeps a Neutral rating on the shares. The company reported “noisy” Q4 results following its combination with Dish Network at year-end, the analyst tells investors in a research note. The firm remains on the sidelines as EchoStar’s wireless efforts continue to scale and pay TV pressures persist.