Dish Network Gets a Hold from Macquarie

By Jason Carr

In a report released today, Amy Yong from Macquarie reiterated a Hold rating on Dish Network (NASDAQ: DISH), with a price target of $61. The company’s shares closed yesterday at $58.79.

Yong wrote:

“We downgrade to Neutral on the basis of: 1) underutilized spectrum could make it harder to swallow – the scenario which offers the greatest upside; 2) near-term carrier network demands appear healthy; and 3) 5G technology utilizes other means. We cut our SoTP target to US$61, which assigns a US$1.15/MHz-PoP value to its spectrum (Fig 3).”

According to TipRanks.com, Yong is a 4-star analyst with an average return of 10.2% and a 59.5% success rate. Yong covers the Services sector, focusing on stocks such as Liberty Global PLC LiLAC Class A, Live Nation Entertainment, and Madison Square Garden Co.

Currently, the analyst consensus on Dish Network is Moderate Buy and the average price target is $67, representing a 14.0% upside.

In a report issued on April 10, RBC Capital also reiterated a Hold rating on the stock with a $56 price target.

Based on Dish Network’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3.72 billion and quarterly net profit of $343 million. In comparison, last year the company earned revenue of $3.79 billion and had a net profit of $389 million.

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DISH Network Corp. is a holding company, which engages in the provision of pay-tv services. It operates through Pay-TV and Broadband, and Wireless segments. The Pay-TV and Broadband segment is offered under the DISH brand and Sling brand. The Wireless segment refers to the wireless spectrum licenses and related assets. The company was founded by Charles W. Ergen, Cantey W. Ergen and James DeFranco in 1980 and is headquartered in Englewood, CO.