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Fly News Breaks for February 21, 2020
Feb 21, 2020 | 05:55 EDT
Pivotal Research analyst Jeffrey Wlodarczak raised the firm's price target on Dish (DISH) to $39 from $37 and keeps a Hold rating on the shares. The core Dish business is a "declining annuity" that declined at a slower than expected pace in Q4, Wlodarczak tells investors in a post-earnings research note. The shares have bounced post the favorable judicial ruling in the Sprint (S/)T-Mobile (TMUS) deal as investors appear to believe that Dish management may be about to announce a large financial backer for its wireless project or some other transformative event, adds the analyst. However, he believes investors are unlikely to have the patience for a multi-year buildout without "immediate massive" investment partners.