02:30 PM EDT, 08/26/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

AT&T ( T ) has agreed to purchase wireless spectrum licenses from EchoStar for approximately $23B in an all-cash transaction. The deal includes 30 MHz of nationwide 3.45 GHz mid-band spectrum and 20 MHz of nationwide 600 MHz low-band spectrum, with closing expected mid-2026 subject to regulatory approvals. AT&T ( T ) and EchoStar also enhanced their long-term wholesale network service agreement. While we view the licenses as expensive, we believe they will help AT&T ( T ) better compete with T-Mobile's (TMUS 250 *****) 5G network, which utilizes mid-band spectrum from its Sprint acquisition. The transaction will be financed with cash and new debt, bringing debt/adj. EBITDA to around 3x. We are disappointed to see AT&T ( T ) step back from debt reduction efforts, but believe the spectrum is valuable for its 5G network. The company plans to return to its target range of roughly 2.5x over three years. From EchoStar's perspective, this represents a desperately needed lifeline to pay off its debt load amid bankruptcy rumors.