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DISH advances following AT&T spectrum purchase

DISH (DISH) is climbing after AT&T (T) agreed to buy wireless spectrum from Verizon Wireless (VZ, VOD) for $1.9B in cash and a contribution of Advanced Wireless Services spectrum licenses. Following the deal announcement from the two carriers, a Wells Fargo analyst wrote that the deal indicates that DISH's spectrum is "an extremely valuable asset." Wells Fargo analyst Marci Ryvicker believes that, based on the price AT&T paid, the spectrum owned by DISH is worth $5.3B. Ryvicker maintained an Outperform rating on DISH. In early afternoon trading, DISH climbed 72c, or 1.97%, to $37.35.