"EchoStar probably has more to gain from a potential investment into broadband technology than DirecTV, given it has fewer RBOC relationships," Prudential's Kathy Styponias wrote in January, before AT&T and BellSouth announced their planned linkup. Prudential makes a market in the stock and has an overweight rating and $35 price target on EchoStar.

In the meantime, investors impatiently await the catalyst that will send EchoStar into orbit.

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