Dish Network (DISH) PT Lifted to $95 at Brean Capital; Sees DISH Going After T-Mobile (TMUS)

Brean Capital analyst Todd Mitchell reiterated a Buy rating and boosted his price target on Dish Network (NASDAQ: DISH) to $95.00 (from $78.00) following Q4 results Monday. Mitchell expects DISH to go after T-Mobile (NYSE: TMUS) soon, which would help it regain its competitive advantage.

Mitchell commented, "Results were nothing to get excited about, programming disputes led to sub losses that were greater than expected. Not that anyone was focused on this. Instead all were listening to DISH Chairman Charlie Ergen for some indication of his next move. Will he sell the company? Will he lease his spectrum out? Ergen responded by continuing to refer to his optionality, but the main gist of his comments were about the future for DISH. He spoke of his vision of how content will be consumed in the future, and how the MCVP need to work with the programmers to find a new advertising model that incentivizes them to stay with a distributor, rather than develop their own B-to-C strategies. It is clear that Ergen has a plan for DISH, and new wireless services, that will not only revitalize DISH’s core residential business, but allow it to forge new market segments, upending the traditional MCVP model and the wireless business, by creating a new service that gets in front of changes in consumption. This vision now requires a wireless operator partner, and we think that T-Mobile is the target. We expect the next step to be a combination of the two companies, and we believe DISH will get favorable terms."

For an analyst ratings summary and ratings history on Dish Network click here. For more ratings news on Dish Network click here.

Shares of Dish Network closed at $77.39 yesterday.

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Sherwin-Williams (SHW) PT Lowered to $286 at BofA Securities, 'risk to valuation'