UPDATE: BMC Initiates DISH Network at Buy

BMC is out with its report today on DISH Network DISH, initiating DISH at Buy. In a note to clients, BMC writes, "We are initiating coverage of The DISH Network with a Buy rating and a $41 targe price. DISH is our top pick because we believe: (1) the recent acquisitions of wireless spectrum, space segment, and access to OTT content via Blockbuster will allow DISH to reposition itself to offer a more competitive service profile; (2) that DISH can capitalize on new satellite‐based technologies to scale this new service offering in a highly capital‐efficient 'as‐needed' manner; and (3) that once reconstituted DISH will have the lowest‐cost distribution platform with the least amount of out‐of‐network transmission and a ubiquitous footprint." Shares of DISH closed Friday at $31.78, up 0.09% from Thursday's close.