Market Overview

UPDATE: Bank of America Resumes Dish Network at Underperform on Uphill Climb Ahead

Related DISH
Markets Marginally Lower Ahead Of Earnings Season
Wunderlich Securities Sees DISH Network Valuations Getting Naively Optimistic
Expedia Now Accepting Bitcoin (Fox Business)

In a report published Monday, Bank of America analyst Jessica Reif Cohen resumed coverage on Dish Network (NASDAQ: DISH) with an Underperform rating, and raised the price target from $28.00 to $33.00.

In the report, Bank of America noted, “We are resuming coverage of Dish Network (DISH) with an Underperform rating and a revised $33 PO (vs. $28 prior), reflecting a marginally higher EBITDA multiple mostly due to increased value assigned to the Co.'s 40-46MHz of spectrum. Over the past year, perception of DISH has gone from savvy spectrum acquirer to visionary wireless pioneer to a Co. arguably outfoxed by a better capitalized competitor, which viewed entry into the U.S. wireless business as imperative. DISH presumably wants to continue down a wireless path, but has neither a current partner (although that could one day change) nor realistic ability to ‘go-it-alone,' despite the Co.'s apparent willingness to use its considerable balance sheet leverage power. For 2Q, focus will likely shift back to operations, which continue an uphill climb (the impetus for a wireless venture to begin with).”

Dish Network closed on Friday at $42.98.

Posted-In: Bank of America Jessica Reif CohenAnalyst Color Initiation Analyst Ratings

 

Most Popular

Related Articles (DISH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free