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Stock impact report

EchoStar (SATS) Rockets 30.9% on SpaceX IPO, Bullish Coverage [Yahoo! Finance]

EchoStar Corporation - Common stock (SATS) 
Last echostar corporation - common stock earnings: 2/20 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.echostar.com/investors
Company Research Source: Yahoo! Finance
EchoStar climbed by 30.94 percent week-on-week after rallying for seven consecutive days, as investors took heart from SpaceX's billion-dollar public offering plan as well as an investment firm's bullish coverage for its stock. On Thursday alone, EchoStar Corporation (NASDAQ:SATS) jumped to an all-time high of $109.53 after Bloomberg reported that Elon Musk-led SpaceX—which it is a shareholder of—would pursue an initial public offering next year in a bid to raise more than $30 billion in fresh funds. Bloomberg said that SpaceX may list publicly in June, targeting a valuation of around $1.5 trillion. EchoStar Corporation (NASDAQ:SATS), which currently owns $11.1 billion worth of SpaceX stock, stands to benefit from the IPO as it could substantially unlock the value of its investment. In other news, EchoStar Corporation (NASDAQ:SATS) earned a higher price target of $110 from Morgan Stanley, versus $82 previously, as well as a rating upgrade of “overweight” versus “equal weight” p Show less Read more
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