Echostar shares surge 6.01% after hours as analysts raise price targets and SpaceX spectrum sale boosts investor confidence.

Echostar Corporation (SATS) surged 6.01% in after-hours trading, driven by analyst upgrades and a strategic spectrum sale to SpaceX. Deutsche Bank, Citi, and TD Cowen raised price targets to $131, $111, and $158, respectively, citing positive catalysts like the $17 billion AWS-4/H-block spectrum deal with SpaceX, potential SpaceX IPO gains, and asset reevaluations. The transaction, which includes cash and SpaceX stock, also grants Boost Mobile access to Starlink services, reinforcing Echostar’s pivot to investment-driven growth. While a bond conversion announcement caused a minor 1.3% dip earlier, the broader bullish sentiment from institutional upgrades and transformative partnerships dominated the post-market rally.