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UPDATE: Wunderlich Reiterates Buy Rating on DISH Networks As Chairman Reiterates Offer for Clearwire

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In a Tuesday report, Wunderlich reiterated its Buy rating and $42 price target on DISH Network (NASDAQ: DISH).

According to Wunderlich, the reiteration comes after, "Chairman Charlie Ergen seemed to play Hamlet last week at the AllThingsD conference as to whether DISH would sell its spectrum if it cannot find a network partner. He also reiterated his $3.30 offer for Clearwire (CLWR-NR), although it is difficult to see how he coerces Sprint (S-NR) into abandoning or sharing control. Our base wireless valuation on a shared development approach is $10.7B, but DISH's litigiousness, most recently suing ESPN for $150mm over a Most Favored Nation pricing clause, is likely another impediment to partnerships given the convoluted provisions necessary for a shared network launch or a sale/wholesaling arrangement."

DISH closed Friday at $36.93.

Latest Ratings for DISH

DateFirmActionFromTo
Mar 2015BMO CapitalInitiates Coverage onUnderperform
Feb 2015NomuraMaintainsNeutral
Feb 2015RBC CapitalDowngradesOutperformSector Perform

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Posted-In: Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

 

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