Citi Renews EchoStar With $126 Target as Analysts Pitch Discounted SpaceX Exposure
Updated
Updated · Bloomberg · Jul 10
Citi Renews EchoStar With $126 Target as Analysts Pitch Discounted SpaceX Exposure
2 articles · Updated · Bloomberg · Jul 10
Summary
Citi analyst Michael Rollins resumed coverage of EchoStar with a buy rating and a $126 price target, arguing the stock offers a public-market way to play SpaceX.
EchoStar bulls say the company gives traders discounted exposure to SpaceX, which remains largely inaccessible to most public investors.
Rollins said EchoStar could gain over the next year from a potentially higher SpaceX share price and from its own efforts to reshape the business.