EchoStar extends rally after AT&T spectrum deal

** EchoStar's SATS.O shares up 16.4% to $59.21 and hit fresh record high on Weds, a day after spectrum licenses deal with AT&T T.N announced

** SATS shares on Tues closed up 70% after co agreed to sell wireless spectrum licenses for $23 bln to AT&T as it faces scrutiny from government regulators and after President Donald Trump urged a deal

** In Jun, Dish TV parent EchoStar said Trump prodded it and Federal Communications Commission Chair Brendan Carr to reach an amicable deal over the fate of the co's wireless spectrum licenses

** TD Cowen hiked its PT from $28 to $67, saying the deal "unlocks the ability to sell spectrum to the Big 3 as we believe all three are better positioned and now avid and willing buyers"

** Deutsche Bank raised its PT from $43 to $67, in a tie for Street-high, per LSEG

** After the bell Tues, SATS shares rose following report that Elon Musk's Starlink and T-Mobile US TMUS.O have shown interest in acquiring some or all of EchoStar's spectrum

** With move on Weds, SATS shares up about 160% YTD and have quadrupled from their 2025 lows hit in early Jun

** 2 of 7 brokerages rate SATS "buy" and 5 have "hold"; median PT is $43.75