EchoStar Announces Financial Results for the Three and Six Months Ended June 30, 2024
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JPMorgan Downgrades Echostar Holdings (SATS) to Underweight 'on Leverage/Funding Concerns and Still Ramping Wireless Efforts'
August 12, 2024 5:36 AM EDTJPMorgan analyst Philip Cusick downgraded Echostar Holdings (NASDAQ: SATS) from Neutral to Underweight with a price target of $12.00.
The analyst comments "We downgrade EchoStar to Underweight (from Neutral) due to 1) leverage/funding concerns, 2) increased opex/capex related to wireless ramp, and 3) continued pressure in the companys core legacy businesses (PayTV and Broadband). SATS reported mixed 2Q results, with better PayTV KPIs and... More
