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Author : Globenews9 Last Updated, Jun 16, 2021, 12:46 PM Markets
Dish could become 'best positioned 5G operator to actually fulfill the promise of 5G,' analyst says in upgrade
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Shares of Dish Network Corp.
DISH,
+2.66%

are up 2.6% in premarket trading Wednesday after Pivotal Research Group analyst Jeffrey Wlodarczak upgraded the stock to buy from hold and boosted his target price to $60 from $50. Wlodarczak is upbeat about Dish’s wireless opportunity as the company works to build out a 5G network. “Dish is in the process of rolling out what we view as a revolutionary cloud-native/software-driven 5G network with key partner AWS that should allow them/developers/AWS to relatively quickly develop 5G applications/services that have the potential to revolutionize wireless, particularly in enterprise markets,” Wlodarczak wrote in a note to clients, referring to Amazon.com Inc.’s
AMZN,
+0.95%

AWS cloud-computing platform. He argued that “naysayers” may focus on Dish’s potential as a lower-cost fourth wireless carrier in the U.S. but he said that they are overlooking the company’s opportunity in enterprise markets. “In our view, post the build out of DISH’s first market (Las Vegas) in 2H the potential upside is likely going to become increasingly obvious to investors/telco analysts from DISH leveraging their completely unique architecture and we believe rather than simply be a dumb pipe DISH will likely participate in the revenue upside from its wireless partners,” he continued. “The bottom line is that DISH, in our opinion, is the best positioned 5G operator to actually fulfill the promise of 5G which in our view is not even close to being priced in the current valuation.” Shares have gained 24% so far this year as the S&P 500
SPX,
-0.54%

has risen 13%.

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