Dish price target lowered to $12 from $32 at TD Cowen

TD Cowen analyst Gregory Williams lowered the firm’s price target on Dish to $12 from $32 and keeps an Outperform rating on the shares. The firm said they posted downside 3Q results with downside DBS/Wireless EBITDA and KPIs higher 5G costs and higher capex. With 5G/Boost delays, each passing downside quarter narrows the pathway to solve the B/S. Cowen continue to view Dish as a concept stock that can leverage 30B of unencumbered spectrum in meaningfully accretive ways.