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.
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