Market Overview

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

Related DISH
Jon Najarian Sees Unusual Activity In Dish Network
Not Everyone Jumping On The Netflix Bandwagon Ahead Of Q3 Earnings

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.

Latest Ratings for DISH

Sep 2017CitigroupUpgradesSellNeutral
Jul 2017CitigroupDowngradesBuySell
May 2017Hilliard LyonsDowngradesBuyNeutral

View More Analyst Ratings for DISH
View the Latest Analyst Ratings

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


Related Articles (DISH)

View Comments and Join the Discussion!

Partner Center