Market Overview

UPDATE: Dish Shares Flat Despite Raymond James Upgrade

Share:
Related DISH
Analyst Says 31 Million Homes Could Cut Cord On Legacy Media; New Study Shows 64% Of U.S. Households Now Stream Programs
Investors Seem To Be Materially Discounting T-Mobile Shares Based On 2 Factors

Shares of Dish (NASDAQ: DISH) are flat Friday despite a Raymond James upgrade. The firm’s Frank Louthan responded to Dish’s disappointing earnings Thursday morning, which subsequently sent shares down 4.02 percent.

The analyst upgraded shares of DISH from Underperform to Market Perform.

One of the key reasons for the upgrade, according to Louthan, is the company’s performance versus competitors. Specifically, analysts thought Directv would steal Dish’s market share. In addition, Louthan believes Dish may be a takeover target for AT&T; the deal would provide AT&T with bandwidth and additional wireless spectrum.

Louthan did not put a price target on Dish, but he thinks Dish should trade at a discount to pay TV companies; these companies are trading at 12.5 times expected free cash flow and six times EBITDA (the two metrics cited in the report).

After dropping at the beginning of the session, shares of Dish are currently flat at $60.14.

Latest Ratings for DISH

DateFirmActionFromTo
May 2017Hilliard LyonsDowngradesBuyNeutral
Apr 2017BarclaysUpgradesEqual-WeightOverweight
Apr 2017SunTrust Robinson HumphreyInitiates Coverage OnHold

View More Analyst Ratings for DISH
View the Latest Analyst Ratings

Posted-In: Frank Louthan Raymond JamesAnalyst Color Upgrades Analyst Ratings

 

Related Articles (DISH)

View Comments and Join the Discussion!