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Technology Stocks : Game Changers and Market Movers

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From: Paul H. Christiansen	11/21/2014 11:32:32 AM
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Dish Network Target Raised Amid Hot Spectrum Auction Citigroup upped its price target on Dish Network (NASDAQ: DISH) on views that the results of a government auction of radio spectrum had "reinforced" the value of mid-band spectrum owned by the satellite TV broadcaster. Jason Bazinet, the Citigroup analyst, raised his price target to 94 from 79. Dish shares rose 2.8% to 74.22 in pre-market trading on the stock market today. The Advanced Wireless Service No. 3 spectrum auction has raised $29.8 billion through 23 rounds, blowing past estimates. The AWS-3 auction started on Nov. 13 and is winding down. It's the first major sale of airwaves since 2008. Some 65 megahertz of spectrum has been auctioned, including 50 MHz for a key "downlink" spectrum that lets mobile users download video and other content. Wireless firms bid for specific blocks of spectrum in U.S. markets. "Dish's equity has increased 13% since the start of the AWS-3 auction on Nov. 13," said Bazinet in a report. "Despite the double-digit increase in Dish's stock price, we believe there is further upside from current levels. Should Dish be successful in attaining 15 MHz of uplink-only spectrum to pair with its downlink spectrum, we believe Dish's equity could reach $113." To read the entire article select . . . Dish Network Target Raised Amid Hot Spectrum Auction

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