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Tilson Funds Thinks Echostar (SATS) Is Undervalued
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Whitney Tilson, hedge fund manager of the Tilson Funds, just finished presenting Echostar (Nasdaq: SATS) as one of his great, new long ideas. At the Value Investing Congress, he is currently pitching one of his other favorite ideas, Berkshire Hathaway (NYSE: BRK.A). At the Congress last year, Tilson pitched Berkshire Hathaway as well.
Below are some of the reasons the Tilson Funds like Echostar.
Echostar is valued in the market at approximately satellites plus investments, meaning you get set-top boxes, joint-ventures and technology for free.
Tilson says Echostar's Enterprise Value is $1.0 Billion and the Book Value Per Share is $36.10. Based on comps, Whitney Tilson thinks that Echostar is worth anywhere between $51.20 to $62.20 a share, a gigantic premium to what Echostar is trading at now.
EchoStar Corporation (EchoStar), formerly EchoStar Holding Corporation, will operate two primary businesses: digital set-top box business and a fixed satellite services business.
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