Publish date:

Hughes Electronics Falls 3.1% Despite Strong Buy Rating

Author:

GM's (GM) - Get Report Hughes Electronics

(GMH)

was down 3.1% in late trading despite being started by

Morgan Stanley Dean Witter

with a strong buy rating and a price target of $48. Morgan Stanley also began coverage of three other satellite communications companies, all with strong buy ratings:

Pegasus Communications

(PGTV)

TheStreet Recommends

,

EchoStar Communications

(DISH) - Get Report

and

Gilat Satellite Networks

(GILTF)

.