While U.S. stocks were broadly higher last week, Dish Network (NASDAQ:DISH) rose over 10% outperforming the broader market and other stocks in our media and telecom coverage. Other competitors that fared well were DirecTV (NASDAQ:DTV), Comcast (NASDAQ:CMCSA), Time Warner Cable (NYSE:TWC) and others. Our price estimate for Dish Network stands at $31.80, implying a slight premium to market price.
Last Week’s Positives for Dish
Despite weakness in consumer spending data, investors paid more attention to higher factory orders [1] The relevant index, Institute for Supply Management’s factory index, increased from 53.5 in May 2011 to 55.3 in June 2011. [1]
Last week also Dish also received approval for its $1.4 billion bid for DBSD North America, [2] and its getting close to acquiring TerreStar. [3]
Also estimates for Dish have been increased by several analysts including RBC Capital.
See our complete analysis for Dish Network’s stock.
Notes:- US Indexes Sitting Higher as Investors Shrug Off Lackluster Consumer Confidence, Construction Data, Nasdaq News, Jul 1 2011 [↩] [↩]
- Court set to approve DBSD’s $1.4 billion sale to Dish, Reuters, Jun 30 2011 [↩]
- Dish Network Close To Getting Wireless Airwave, investors.com, Jun 30 2011 [↩]
