UPDATE: Brean Murray Carret Gives Dish Network 4Q11 Preview; Raises PT

In a research report published today by Brean Murray Carret, DISH Network

continues to hold down a positive investment thesis following the FCC's rejection of AT&T's

bid for T-Mobile. Brean Murray Carret shared in the report, “The primary investment thesis for DISH is for unlocking value from its wireless spectrum. Specifically, with the FCC rejecting AT&T's bid for T‐Mobile, DISH controls the only unused block of wireless spectrum large enough to satisfy AT&T's needs. Therefore, AT&T might want to acquire DISH, or at the very least, DISH should be able to extricate value from AT&T for the sale, or lease, of some, or all, of this spectrum, and/or the formation of a JV or strategic partnership for wireless services. Before the FCC's rejection of AT&T's bid for T‐Mobile, we had a positive investment thesis for DISH based on the company using these assets to enhance its own service profile. This thesis is unchanged, merely enhanced by these developments.” Brean Murray Carret maintains its Buy rating and increases PT from $33 to $37 on DISH, which closed Friday at $29.02.