Jefferies Sees 100% Upside in Dish Network (DISH); Spectrum Value 'Vastly Underappreciated'

Jefferies analyst Mike McCormack cut his price target on Dish Network (NASDAQ: DISH) to $80.00 (from $100.00) but maintained a Buy saying the company's spectrum value is "vastly underappreciated." The price target represents more than 100% upside from yesterday's close.

"In our view, investors have lost hope in realization of DISH’s asset valuation, presenting one of the best investing opportunities in our coverage," McCormack said. "We see DISH as uniquely positioned to capitalize on carriers' network capacity constraints."

The analyst views a sale of the asset, or merger with a wireless operator, as unrealistic near-term, and believe a leasing deal is most likely.

For an analyst ratings summary and ratings history on Dish Network click here. For more ratings news on Dish Network click here.

Shares of Dish Network closed at $39.71 yesterday.

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