Investing.com — Shares of DISH Network (NASDAQ:DISH) were up 2% in Wednesday’s premarket following Pivotal Research’s confidence-boosting 20% higher target for the stock.
Pivotal analyst Jeffrey Wlodarczak upgraded the stock to buy from hold.
He sees the stock at $60, up from his $50 target earlier and 49.4% higher from its closing level on Tuesday.
The stock price could get a little bump from any merger with AT&T’s DirecTV too, Wlodarczak believes.
According to Wlodarczak, Dish’s risk/reward is “simply too great” and the new target price is “arguably conservative”.
The analyst believes DISH partnering Amazon (NASDAQ:AMZN) Web Services should allow 5G services to be quickly developed.
DISH will use AWS as its preferred cloud provider and will construct its 5G network on it.