140 Summer Partners LP disclosed a new $99.68 million investment in EchoStar Corporation. The fund acquired 916,997 shares, making EchoStar (SATS) its second-largest position.
New Street Research raised its price target for EchoStar to $165. The analyst notes that the market significantly undervalues EchoStar's substantial stake in the recently public SpaceX (SPCX). The firm describes owning EchoStar as an attractive way to gain exposure to SpaceX at a discount.