$SATS New Street analyst David Barden refined the firm’s valuation for EchoStar, incorporating the exact number of SpaceX ($SPCX) shares that the company is going to receive and the SpaceX price at the close of the first day of trading post-IPO and also having tweaked down its AWS-3 valuation slightly based on the current designated entity auction trajectory. The current EchoStar stock price implies its SpaceX stake is valued at about $86 per share, or 46% below the current stock price, notes the analyst, who believes owning SpaceX stock via EchoStar at these levels is “an attractive proposition.” The firm thinks EchoStar is worth $159 per share based on the current SpaceX stock price and is worth $161 per share based on the firm’s price target of $165 for SpaceX, the analyst tells investors.
Watching $XYZ rip 20%+ AHT on the sad news that ~50% of employees will be laid off is precisely why the market is going to go much, much higher
The K-shaped guillotine is just getting started