Wunderlich Securities Speculates on How Possible AT&T Deal Might Affect DISH Network Corporation

In a report published Thursday, Wunderlich Securities analyst Matthew Harrigan reiterated a Hold rating and $51.00 price target on

. In the report, Wunderlich Securities noted, “Hold-rated Dish Network (DISH) moved up 6% yesterday off an afternoon Bloomberg News story that Chairman Charlie Ergen had again approached DirecTV (DTV-$77.34, Buy) CEO Mike White on a merger. White reportedly remains skeptical of both Dish's wireless ambitions and the likelihood of approval in Washington during the Obama Administration. We carry what we think is a full $2.6B synergy estimate, although more overriding deal benefits could arise off an aggressive and viable mobile deployment. We frankly would have considered reducing Dish Network to Sell this morning were it not for AT&T's (T-NR) need to either aggressively upgrade to FTTH or buy a satellite company. DirecTV has more homes and better demographics, but Dish's spectrum would have overriding value to AT&T.” DISH Network Corporation closed on Wednesday at $62.09.