Epstein Secrets

pivots towards one of spectrum commercialization. At nearly 7% we think DISH remains cheap. DISH 7.75% Sr Notes due 2023: $105.50, 6.89%, 440 bps Intelsat - BUY Longer-Dated Jackson: It's been another whirlwind year for Intelsat - a failed Softbank deal, liability management exercises, potential monet

aunches, industry multiple contraction amongst its peer group. While the fundamentals of the business remain in flux with the ex-mobility growth in Network Services yet to turnaround, an approaching media renewal cycle that will have a hit to revenues, and -20% of government contracts up for renewal in 2018, we

e trends to directionally continue, which bodes well for the likes of EchoStar, ViaSat and potentially Inmarsat, but presents ongoing challenges to Intelsat and SES as they await the inflections in growth from HTS capacity that has been launched in the last several quarters. Business Trends Within resi

band and mobility segments of the satellite industry are performing well and have positive growth trajectories, many other lines of business across Network Services and Media continue to face mounting headwinds with moderate growth from other strategic services failing to make up the gap. Given the slow moving

c, but the pick-up in those services is slow in aggregate. Mobility picked up quickly considering it's the only game in town. Speaking directly on Intelsat, management has spoken of a longer-than expected sales lead cycle of selling the new HIS capacity into customers. Currently, this appears to be tak

are in the process of changing the landscape and opportunities as the major players have launched the next gen High Throughput Satellites (HTS). In Network Services, while the new capabilities provide many new benefits such as added capacity and new addressable end markets, the earliest impact of the advanced t