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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.
News For DISH;S;TMUS From the Last 2 Days
Jun 1, 2020 | 06:57 EDT
RBC Capital analyst Jonathan Atkin raised the firm's price target on T-Mobile (TMUS) to $110 from $94 and keeps an Outperform rating on the shares. The analyst is making adjustments to his model that include the acquisition of Sprint (S), divestiture of Sprint's prepaid assets to DISH (DISH) and a "better understanding of contributions from the DISH MVNO agreement" following the prepaid divestiture, raising his expected FY20 EBITDA view to $22.2B from $14.0B. Numerous "moving pieces" remain, but Atkin sees T-Mobile as "favorably positioned" with a value proposition and prospective network improvements along with its strengthened spectrum portfolio.