EchoStar gains as analysts lift targets ahead of SpaceX IPO
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Analysts have raised their price targets for EchoStar, with TD Cowen at $155 and New Street at $161, both reflecting optimism tied to the upcoming SpaceX IPO. EchoStar's 2% stake in SpaceX is valued at $31 billion, countered by $22 billion in debt. The anticipated June 12 IPO, valued at $1.75 trillion, is driving investor interest in EchoStar as a means of indirect exposure to SpaceX.
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