Morgan Stanley analyst Benjamin Swinburne raised the firm’s price target on EchoStar (SATS) to $14.25 from $5 and keeps an Equal Weight rating on the shares. The firm said the new price target, as well as the updated Bull Case, Base Case, and Bear Case estimates, reflect the closing of the Dish Network merger at the close of 2023. While EchoStar has met its June 2023 spectrum milestones, the pay-TV business remains pressured and the company faces significant debt maturities and 2025 milestones, the analyst tells investors in a research note.
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