What Happened?

Shares of satellite communications company EchoStar (NASDAQGS:SATS) jumped 3.3% in the morning session after Deutsche Bank raised its price target on the company to $131 from $97, while keeping its buy rating on the stock. 

This positive assessment from the investment bank suggested confidence in the company's future value. The move came despite some political headwinds from the previous day, when two lawmakers raised concerns about EchoStar's multi-billion dollar deals to sell key wireless spectrum to AT&T and SpaceX. The lawmakers urged the Federal Communications Commission and the Justice Department to closely scrutinize the proposed sales, citing potential impacts on market competition.

After the initial pop the shares cooled down to $105.40, up 2.7% from previous close.

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What Is The Market Telling Us

EchoStar’s shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 11 days ago when the stock gained 7% as the stock continued its rally from the previous trading session, driven by reports that the value of its significant stake in SpaceX could double. 

The momentum started after The Wall Street Journal reported that SpaceX was preparing a share sale that would value the rocket maker at $800 billion, a twofold increase from its prior valuation. EchoStar acquired its stake in SpaceX in September 2025 by selling spectrum licenses to the company. This move now appeared very shrewd. Adding to the positive sentiment, Citi increased its price target for EchoStar to $87, flagging what it saw as a transformative phase for the company.

EchoStar is up 363% since the beginning of the year, and at $105.40 per share, it is trading close to its 52-week high of $107.37 from December 2025. Investors who bought $1,000 worth of EchoStar’s shares 5 years ago would now be looking at an investment worth $5,286.

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