Shares in Dish Network have, in a sense, fallen upwards, at least when viewed through the lens of a top industry analyst.
Craig Moffett, analyst with MoffettNathanson LLC , upgraded Dish Network LLC(Nasdaq: DISH) from "Sell" to "Neutral" on Thursday, reasoning that shares in the company have fallen far enough that the price reflects both an upside risk should Dish decide to sell its spectrum, and a downside risk if the company opts to move ahead with an expensive 5G network buildout.
As a result, the risks and rewards of owning Dish shares have finally equaled out, the analyst concluded.
Moffett noted that the logic behind the earlier "Sell" rating came from "commonplace" recommendations that valued Dish's spectrum at $3 per MHz-POP, while Moffett believed then (and still believes now) that its worth a "bit less" than $1 per MHz-POP. Moffett said that his valuation on that spectrum implied a target price of $38 back when Dish shares were trading as high as $70.
Dish Shares Fall Into An Upgrade | Light Reading
Craig Moffett, analyst with MoffettNathanson LLC , upgraded Dish Network LLC(Nasdaq: DISH) from "Sell" to "Neutral" on Thursday, reasoning that shares in the company have fallen far enough that the price reflects both an upside risk should Dish decide to sell its spectrum, and a downside risk if the company opts to move ahead with an expensive 5G network buildout.
As a result, the risks and rewards of owning Dish shares have finally equaled out, the analyst concluded.
Moffett noted that the logic behind the earlier "Sell" rating came from "commonplace" recommendations that valued Dish's spectrum at $3 per MHz-POP, while Moffett believed then (and still believes now) that its worth a "bit less" than $1 per MHz-POP. Moffett said that his valuation on that spectrum implied a target price of $38 back when Dish shares were trading as high as $70.
Dish Shares Fall Into An Upgrade | Light Reading
