EchoStar rises after SpaceX reportedly discusses Boost Mobile deal
SATS•EchoStar shares rose 4.6% premarket after SpaceX reportedly held talks to buy Boost Mobile or gain access to its network, which EchoStar leases from AT&T and T-Mobile.
1. SpaceX talks reported
SpaceX is in talks to buy EchoStar’s Boost Mobile wireless service or gain access to its network, which EchoStar leases from AT&T and T-Mobile. EchoStar shares rose 4.6% to $101.44 premarket, while T-Mobile and AT&T shares fell nearly 2% and 1%, respectively.
2. Analyst ratings
All eight brokerages covering EchoStar rate it “buy” or higher, and their median price target is $130, according to data compiled by LSEG. EchoStar had fallen 10.82% year to date through its last close.
