JPMorgan’s (JPM) Philip Cusick upgraded shares of DISH Network Corp (DISH) from a “Neutral” rating to an “Overweight” rating in a report released on Monday, citing several possible drivers for a higher PPS over the next four to eight quarters. The investment firm’s analyst, who sees an attractive and strong risk-reward dynamic on the satellite TV operator’s stock at its current sub-$60 trading level, currently has a $72.00 p/sh DISH PT from $61.00.
[via Benzinga] “[W]e are hard pressed to see a scenario where the stock declines significantly, and see many areas that could drive shares higher. In wireless, while we don’t expect Dish to sell its spectrum, we also don’t see the company actually building a stand-alone wireless network and find it most likely that Dish will partner with another carrier to light up its spectrum and possibly wholesale capacity and/or other spectrum,” Cusick commented.
Shares of Dish Network ticked up 1.17% to $59.62 Monday morning.