Guggenheim elevates Dish Network to “Best Idea”

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Analysts at Guggenheim Securities are backing Charlie Ergen’s Dish Network DTH operation and have marked it as one of its “Best Ideas” list and that Dish “offers the most significant upside opportunity in 2019”.

In fact, while Dish makes the key list a previous incumbent, telco giant T-Mobile has been dropped from the listing.

Guggenheim analyst Mike McCormack delivered a “BUY” rating on Dish’s shares and a $50 price target (some 58 per cent up on its current typical $32 price).

McCormack admits that on the DTH side of its business Dish is subject to Cord cutting, password sharing and theft as well as the growth from OTT players and broadband in general, he sees opportunities for Dish in terms of wireless as well as an upside in Sling TV (Dish’s OTT offering).

However, he also suggests that Dish could sell off some of its accumulated wireless spectrum.

But just to put the bank’s note into perspective some 18 months ago Dish’s share price was a healthy $60. And back in 2015 it regularly stood in the $70-$75 range.


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