SG Cowen Keeps 'Strong Buy' on EchoStar

Analyst Thomas Watts says subscriber growth at the cable and pay television company continues at unprecedented levels

SG Cowen reiterated its strong buy rating on Echostar Communications (DISH ).

Analyst Thomas Watts says the 12 cents first-quarter earnings per share, $1.38 billion revenue, and $276.9 million earnings before interest, taxes, depreciation, and amortization were all respectively in line with his estimates.

Watts says subscriber growth continues at unprecedented levels, noting first-quarter net additions of of 350,000 exceeded his 259,000 expectation. Watts thinks market share gain came from new mass market distribution channels. He says the $125 million free cash flow beat his $48 million estimate, underscoring his thesis of free cash flow acceleration.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE