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Latest Satellite News Discussion, Info Hughes Gets Wall Street Nod at General Satellite News forum; Hughes Communications got a boost from Wall Street on Monday when SG Cowen initiated coverage of the company with an ...

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Info Hughes Gets Wall Street Nod
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Info Hughes Gets Wall Street Nod - 03-June-2008, 15:40

Hughes Communications got a boost from Wall Street on Monday when SG Cowen initiated coverage of the company with an "outperform" rating.

The financial firm cited Hughes' "balanced product portfolio" that it said provides revenue stability as well as upside potential. In particular, SG Cowen cited Hughes' leadership in the global VSAT market, topping competitors such as ViaSat and Gilat in the sector.

SG Cowen said the VSAT business provides stable revenue and EBITDA for the company.

Also, Hughes' plans to migrate customers onto its Spaceway-3 satellite from leased capacity during the next three years could be another positive. Resulting EBITDA savings of $100 million to $150 million annually could be gained from the transition, SG Cowen said.

The firm added that longer term it expects Hughes to expand its satellite fleet.
   
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