Analysts’ recommendations on Dish Network
Of the 23 analysts covering Dish Network (DISH), ten have given the stock “buy” ratings, while ten have given it “holds.” Three analysts have given it “sells.” Analysts have a target price of $46.41 on the stock, which implies a potential upside of 34.2% based on its closing price of $34.59 on May 7.
Analysts are mostly positive on the stock, even though the media company reported higher-than-expected pay-TV subscriber losses in the first quarter of 2019. Dish Network also delivered weaker-than-expected earnings, but its first-quarter revenue met expectations.
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Analysts raised their price targets and ratings
On May 6, Rosenblatt Securities raised its price target on Dish Network to $34 from $26 and improved its rating to a “neutral.” Credit Suisse has also increased its price target by $8 to $34, as it expects improvements in the company’s video customer losses in the second half of the year. Credit Suisse has also raised its rating to a “neutral” from an “underperform.”
According to Credit Suisse analyst Douglas Mitchelson, the impact of Dish’s programming disputes related to HBO and Cinemax will expire later this year, and the chances of subscribers leaving the company will decrease. Mitchelson believes that the company’s existing subscriber base will increasingly come from rural areas.