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Fly News Breaks for April 18, 2017
DISH
Apr 18, 2017 | 07:15 EDT
Macquarie analyst Amy Yong downgraded DISH to Neutral and lowered its price target to $61 from $70. The analyst said even in the event of an M&A deal, she belives upside could be capped due to balanced carrier spectrum supply/demand, reducing the premium on DISH's spectrum portfolio, spectrum buildout requirements which begin in 2020 could prolong the urgency to unlock spectrum, and a DISH-carrier combination would likely generate regulatory uncertainty. Yong also believes DISH's 13.7M subs may feel continued pressure from secular TV trends while OTT competition is high, and other carriers are gearing up for 5G, leveraging fiber and densfication, resulting in little spend in the 600MHz auction.
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