Echostar Holdings (SATS) Highlighted at Raymond James Ahead of Satellite Launch Today

Raymond James analyst Ric Prentiss reiterated a Strong Buy rating and $63.00 price target on Echostar Holdings (NASDAQ: SATS) ahead of the launch of the third EchoStar S-Band nanosatellite scheduled for the afternoon of 6/30.

The analyst stated "The SpaceX Transporter 2 mission, which when Brought Into Use (BIU) should satisfy an important regulatory milestone for global S-Band spectrum rights. This is the third recent launch date for this 3rd S-Band nanosatellite that SATS plans to use for additional S-Band market trials, as the company continues testing 5G applications with the first S-Band nanosatellite." "We believe the DISH/AWS cloud partnership announcement (see note HERE) signals Charlie Ergen's global 5G Enterprise ambitions, and think S-Band spectrum will play a unique role."

For an analyst ratings summary and ratings history on Echostar Holdings click here. For more ratings news on Echostar Holdings click here.

Shares of Echostar Holdings closed at $24.57 yesterday.

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