EchoStar Corporation (NASDAQ:SATS) saw a surge in stock price, hitting a new all-time high after Morgan Stanley upgraded its rating to “overweight” and increased the price target to $110. The stock closed at $103.98, up 11.16 percent. EchoStar is expected to benefit from competition in US wireless carriers, with Verizon and T-Mobile eyeing its spectrum assets. Additionally, its subsidiary, Hughes, was selected as the managed network services provider for Pennsylvania.

Read more at Yahoo Finance: Echostar (SATS) Hits New All-Time High as Analyst Hikes PT, Rating