- MoffettNathanson analyst Craig Moffett upgraded DISH Network Corp DISH to Neutral from Sell with a price target of $40, up from $15, implying a 4% downside.
- The upgrade follows the company's services agreement with AT&T Inc T.
- AT&T has offered Dish with enormous optionality, Moffett stated.
- The network service deal is a game-changer for Dish and a disastrous result for the wireless game-changer.
- The extended agreement gives Dish more time to build out its network and improves the likelihood of a strategic partnership and future financing.
- Moffett now views Dish's bankruptcy risk as much lower.
- Price action: DISH shares traded higher by 3.07% at $42.96 on the last check Monday.
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