Raymond James analyst Ric Prentiss double downgraded EchoStar to Market Perform from Strong Buy without a price target. The current share price more accurately reflects the risk/reward trade-off for the company going forward following the announcement of “several complicated transformative transactions,” the analyst tells investors in a research note. The firm is glad EchoStar has been able to “simultaneously execute on so many complicated moves” to improve its financial position, but believes it is time to move to the sidelines following the rent rally and see how it can execute operationally.
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