Brean Capital Reiterates Buy Rating, $42 PT on DISH Network

In a report published Friday, Brean Capital reiterated its Buy rating and $42.00 price target on DISH Network Corp. DISH. Brean Capital noted, “We think speculation of a DirecTV/DISH [collaboration] is premature. We believe DISH's CEO thinks he can create significant value by building out a wireless business. So why merge with DirecTV now? Why not wait until the two are at greater valuation parity. We note that the earliest and only unprompted comments on the desirability of a DirecTV/DISH merger came from DirecTV's CEO Mike White, not DISH's CEO Charlie Ergen. Perhaps DirecTV is worried about getting left behind in a strategic repositioning of satellite TV into a hybrid satellite/wireless service.” DISH Network Corp. closed on Thursday at $34.63.