Macquarie Positive as Echostar (SATS) Echo XXI Satellite Scheduled to Launch
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Macquarie analyst Andrew DeGasperi weighed in on Echostar Holdings (NASDAQ: SATS) as International Launch Alliance has finally set Dec. 22 for the launch of the Echo XXI satellite, which finally arrived yesterday at the launch facility in Kazakhstan.
"Repeatedly delayed over the last 6 months, news that the S-band spacecraft will launch ahead of the Dec.31 in-service deadline set by the EU as a condition of its lease of S-band spectrum in Europe should bring relief to SATS shares," DeGasperi commented.
The firm maintained its Outperform rating and price target of $55.00
Shares of Echostar Holdings closed at $50.43 yesterday.
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