EchoStar Corp. (SATS) Misses Q2 EPS by 41c

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Go back to EchoStar Corp. (SATS) Misses Q2 EPS by 41c

JPMorgan Downgrades Echostar Holdings (SATS) to Underweight 'on Leverage/Funding Concerns and Still Ramping Wireless Efforts'

August 12, 2024 5:36 AM EDT

JPMorgan 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