CityBank revalues Dish Network
September 18, 2017
Dish Network – and its EchoStar ‘sister’ business – have suffered something of a rollercoaster ride these past few weeks. For example, Dish Network’s price has crashed, falling some 17.6 per cent since August 1st when it share price was $65 (€53.67).
The reduced price, says the bank’s report, “now seems fair” at $53. Equity analyst Jason Bazinet has guided investors with a “Neutral” report and a target price of just $54 and says that at this price Dish’s spectrum (itself valued via EchoStar) is valued just under well-established values.
Of course, those spectrum values could change, and Bazinet says the market needs more clarity on what CEO Charlie Ergen is going to do with the considerable amounts of spectrum he has accumulated.