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