Citi Raises PT on EchoStar (SATS) stock

EchoStar Corporation (NASDAQ:SATS) is one of the High Growth Large Cap Stocks to Buy Right Now. On December 23, Citi analyst Michael Rollins raised the price objective on EchoStar Corporation (NASDAQ:SATS)’s stock to $111 from $87, while maintaining a “Neutral” rating, as reported by The Fly. As per the analyst, the firm cited the recent press reports, which placed an upcoming secondary share sale at the potential private valuation for SpaceX at $800 billion.

In a separate update, on December 22, UBS reduced the price target on the company’s stock to $125 from $128, while keeping a “Neutral” rating, as reported by The Fly.

As per the analyst, after the sale of 75% – 80% of EchoStar Corporation (NASDAQ:SATS)’s spectrum portfolio for ~$43 billion, the company transitioned from a wireless operator to an investment company. This prompted the valuation shift, assigning $11 billion to the remaining spectrum on the basis of precedents.

Notably, the 3% SpaceX stake, which is now being implied at ~$22 billion or roughly $65 per share utilising $800 billion valuation, reflects strong upside compared to the prior marks, added UBS.

EchoStar Corporation (NASDAQ:SATS) offers networking technologies and services.

While we acknowledge the potential of SATS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.