- Dish Network (NASDAQ:DISH) is up 0.8% after a bullish launch from Deutsche Bank, which initiated the stock at Buy.
- It's got a $92 price target; shares closed yesterday at $61.04, a 50%-plus implied upside.
- The outlook looks good for an "enviable" mid-band spectrum stash that analyst Bryan Kraft says has at least three potential buyers or lessees in Verizon, AT&T and T-Mobile.
- "While the ultimate path to monetization isn't entirely clear, we find the risk/reward compelling with a current market-implied valuation of $1.42 per MHz*POP," Kraft writes. "We ascribe $44B (after-tax) to the value of DISH's spectrum portfolio ($2.47 per MHz*POP pre-tax), and we see potential upside if the spectrum is monetized tax efficiently, or DISH secures a higher per MHz*POP value due to the asymmetric (downlink/uplink) proportions of its spectrum licenses."
- Earlier this week, J.P. Morgan lowered its price target on Dish to $85, from $87, while maintaining an Overweight rating.