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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why UBS Upgraded Dish Network To Buy; Sees 42% Upside

Dish UBS John Hodulik DISH Network Corp
  • UBS analyst John Hodulik upgraded DISH Network Corp (NASDAQ:DISH) to Buy from Neutral and put a $44 price target (41.9% upside) on the stock.
  • Hodulik noted Dish's "attractive risk/reward" and some long-term potential for its next-generation, cloud-based 5G wireless network, along with its spectrum.
  • Hodulik noted that based on recent auctions, Dish's 150 MHz of sub-G GHz, which are essentially mid-band spectrum, is "undervalued" at the current share price and may be worth more than the share price itself.
  • "Questions remain regarding DISH's wireless business model, but we believe DISH's network build protects the company's spectrum licenses, whose value serves as a backstop," Hodulik added.
  • Price Action: DISH shares traded higher by 7.33% at $31.63 on the last check Tuesday.
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