Citi analyst Michael Rollins lowered the firm’s price target on Dish to $6 from $9 and keeps a Neutral rating on the shares. The analyst reduced the target to reflect the risk from higher borrowing rates given Citi’s ongoing expectation that Dish needs more than $7B of incremental capital through 2025 to fund its network investments and upcoming debt maturities. Dish and EchoStar continue to retain strategic optionality to pursue external business partners, incremental capital, and future acquisitions that can support a more constructive value for the assets, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DISH:
- Dish Network put volume heavy and directionally bearish
- Dish price target lowered to $5 from $10 at Barclays
- Dish (NASDAQ:DISH): First U.S. Company Fined for Space Pollution
- U.S. FCC issues $150K first ever fine for space debris to Dish Network
- Dish Network call volume above normal and directionally bullish
