Dish Network (DISH) received a Hold rating and a $33 price target from Pivotal Research analyst Jeffrey Wlodarczak today. The company’s shares opened today at $35.09.
Wlodarczak wrote:
“We are downgrading DISH to HOLD as it appears that the S/TMUS deal will clear regulatory hurdles and the 22.9M share equity deal with sister company SATS announced this morning. The likely ultimate approval of the S/TMUS deal likely significantly pushes back the timing for a potential DISH spectrum deal materially. Recall we previously argued that a S/TMUS deal fail could have potentially driven a VZ/TMUS bidding war for DISH spectrum and while VZ still absolutely would appear to need DISH spectrum they appear to be under little pressure to actually enter into a deal in the short/medium term. In addition, DISH is repurchasing its DBS satellites from SATS (N/R) for 22.9M shares (or $800M at the start of the day) that will be distributed to SATS shareholders.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 8.6% and a 57.3% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Liberty Media Corporation Series A Liberty Formula One, and Liberty Global PLC LiLAC Class A.
Dish Network has an analyst consensus of Moderate Buy, with a price target consensus of $38.33, a 9.2% upside from current levels. In a report issued on May 6, Credit Suisse also upgraded the stock to Hold with a $34 price target.
See today’s analyst top recommended stocks >>
Dish Network’s market cap is currently $16.54B and has a P/E ratio of 12.02. The company has a Price to Book ratio of 1.85.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through Pay-TV and Wireless segments. The Pay-TV segment is offered under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets.
