Deutsche Bank Maintains Buy Rating On DISH Network

According to Deutsche Bank, DISH Network DISH Buy rating is maintained. Deutsche Bank said that DISH is the least expensive pay TV stock at 4.2x ‘11E EV/EBITDA, balanced by the most challenged growth outlook ('11-‘15EBITDA CAGR -2.5%) and the greatest strategic/capital return uncertainty. “Our $32 TP is based on a 9.0% WACC (11.3% cost of equity and 7.0% pre-tax cost of debt) and 0% terminal growth in line with sector, plus 80% of wireless & Blockbuster value.” DISH Network closed yesterday at $30.77.