MoffettNathanson Upgrades DISH To Neutral; Increased Price Target Implies 4% Downside

  • MoffettNathanson analyst Craig Moffett upgraded DISH Network Corp DISH to Neutral from Sell with a price target of $40, up from $15, implying a 4% downside.
  • The upgrade follows the company's services agreement with AT&T Inc T
  • AT&T has offered Dish with enormous optionality, Moffett stated.
  • The network service deal is a game-changer for Dish and a disastrous result for the wireless game-changer. 
  • The extended agreement gives Dish more time to build out its network and improves the likelihood of a strategic partnership and future financing. 
  • Moffett now views Dish's bankruptcy risk as much lower.
  • Price action: DISH shares traded higher by 3.07% at $42.96 on the last check Monday.
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