The current EchoStar stock price implies the company’s SpaceX stake is valued at about $86 per share — a level the analyst notes is 46% below Friday’s closing stock price.
- The firm values EchoStar at $159 per share based on the current SpaceX stock price.
- Applying the firm’s $165 price target for SpaceX increases the implied value of EchoStar to $161 per share, according to the analyst.
- EchoStar is widely viewed by investors as a proxy for holding shares of the Elon Musk company.
New Street Research analyst David Barden has updated the firm’s valuation for EchoStar (SATS), incorporating the exact number of SpaceX (SPCX) shares the company is set to receive as well as the SpaceX share price at the close of its first day of trading following the IPO.
The current EchoStar stock price implies the company’s SpaceX stake is valued at about $86 per share — a level the analyst notes is 46% below the stock’s Friday closing price. Barden believes owning SpaceX stock through EchoStar at these levels represents “an attractive proposition.”
The firm values EchoStar at $159 per share based on the current SpaceX stock price. Applying the firm’s $165 price target for SpaceX increases the implied value of EchoStar to $161 per share, according to the analyst.
SATS stock closed up 3% on Monday, while SpaceX shares closed up another 20%.
SpaceX-SATS Connection
EchoStar is widely viewed by investors as a proxy for holding shares of the Elon Musk company.
The company’s link stems from a major spectrum transaction announced in September 2025. Under the original agreement, EchoStar agreed to sell some of its spectrum licenses to SpaceX for approximately $17 billion, structured as up to $8.5 billion in cash and up to $8.5 billion in SpaceX Class A common stock. In November 2025, the companies amended the agreement to include additional spectrum, increasing the total consideration to roughly $19.6 billion, with up to approximately $11.1 billion to be paid in SpaceX stock, then priced at $212 a share. Barron’s estimates that this gives EchoStar roughly 52 million SpaceX shares.
Meanwhile, EchoStar’s traditional satellite and pay-TV businesses continue to face significant headwinds. In the first quarter of 2026, the company lost around 366,000 net pay-TV subscribers, ending the period with 6.63 million total subscribers. Pay-TV revenue declined 10% year-over-year. Its HughesNet satellite broadband business has also come under pressure from low-Earth orbit competitors such as Starlink, losing 58,000 subscribers during the quarter. Overall revenue fell 5.2% to $3.67 billion, though the company narrowed its net loss to $146.9 million from $202.7 million.
How Did SATS Retail Traders React?
On Stocktwits, retail sentiment around SATS stock jumped from 'bullish' to 'extremely bullish' territory over the past week, while message volume rose from 'high' to 'extremely high' levels.
According to Stocktwits’ internal data, retail chatter around SATS has jumped 581% over the past 30 days and by 123% in the past seven days alone.
A Stocktwits user echoed Braden’s sentiment, opining that SATS should be over $1430.
Another user opined that, given SpaceX’s current share price, SATS looks like a steal at its current prices.
According to data from Koyfin, three of the six analysts covering SATS stock rate it ‘Buy’ while three rate it ‘Hold.’ The stock has a 12-month average price target of $137.60, representing a potential upside of about 17% from the last closing price.
SATS stock has risen 5% this year but fell 14% over the past month as part of a SpaceX IPO-driven sell-off. Investors sold shares of existing space-related names, including EchoStar, Rocket Lab (RKLB), and AST SpaceMobile (ASTS), to rotate capital directly into the newly public SpaceX shares.
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