UPDATE: BTIG Initiates Coverage of Dish Network

In a note released Friday, BTIG analyst, Walter Piecyk initiated coverage of Dish Network Corp.

with a Buy rating and a $85 price target. Piecyk commented, "We believe the strategic value of Dish's spectrum will be on the rise in 2015 as wireless operators in the United States continue to dial-up data usage growth on their networks." Piecyk noted spectrum is the most cost effective way to add capacity into wireless networks. Furthermore, he says its availability is limited due to consolidation among the top four national providers over the past decade. Following the release of Piecyk's note, shares of Dish Network have traded up about two percent in the early part of Friday's market session.