Dish Network Corp. (DISH) has inked a strategic partnership with WCI Technologies to offer 5G network to enterprises. The agreement builds on a longstanding business relationship between the two companies. DISH shares fell 0.66% to close at $35.95 on January 18.
Dish Network is a holding company that offers pay-tv services. It operates through Wireless and Pay-TV segments. Dish’s upcoming earnings report for Q4 2021 is scheduled for February 23, 2022.
5G to Enterprises
Expanding a longstanding partnership with WCI should propel Dish’s growth in serving the enterprise market with 5G connection. The wireless company is banking on WCI expertise and contracts to expand its wireless solutions to other key industries
Under the terms of the agreement, WCI will market, sell and deliver systems integration to enterprise customers. Dish, on the other hand, will provide access to a deep portfolio of licensed spectrum. Consequently, Dish’s 5G network will enable smart connectivity in the enterprise market.
Customers bogged down by mission-critical operations requiring wireless connectivity will enjoy complete control in managing their networks. WCI intends to enable handsets and data services support once Dish launches its 5G network.
Stock Rating
In November, Morgan Stanley analyst Benjamin Swinburne reiterated a Hold rating on Dish stock and lowered the price target to $40 from $50, implying 11.27% upside potential to current levels.
According to the analyst, the company faces execution risks associated with its wireless business plans. Conversely, the path to ultimate success for the company is long and complex, given the challenges it is facing with its key vendors and slower ramp out in Las Vegas.
Consensus among analysts is a Moderate Buy based on 5 Buys, 1 Hold, and 1 Sell. The average Dish Network price target of $53.57 implies 49.01% upside potential to current levels.
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