In a report published Friday, Wunderlich Securities analyst Matthew Harrigan reiterated a Hold rating and $60.00 price target on DISH Network (NASDAQ: DISH).
In the report, Wunderlich Securities noted, “Bloomberg reported early yesterday afternoon that Deutsche Telekom is amenable to an offer for its 67% interest in T-Mobile US (TMUS-NR) at a price of $35 per share or higher. This is in the aftermath of a DT strategy meeting in Berlin this Wednesday, and follows rejection of a $33 per share bid from France's Iliad earlier this month. DT CEO Timotheus Hoettges had indicated earlier this month that any offer would have to exceed TMUS's standalone value, with the Sprint (S-NR) seemingly precluded on regulatory concerns supposedly having been near $40 per share. We actually arrive at a $44 2015 standalone fair value for TMUS off WSI's S&P 500 linked valuation approach, although there remains major execution risk as TMUS continues to upgrade its network and the AWS-3 auction approaches.”
DISH Network closed on Thursday at $64.73.
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