Dish Network’s stock surges after double upgrade at Raymond James

Shares of Dish Network Corp.

DISH, -2.14%

shot up 5.9% in premarket trading Monday, after the pay-TV and wireless services company received a double upgrade by Raymond James analyst Ric Prentiss, who said it was an “opportune time to buy Dish” given the recent pullback and with the merger saga between T-Mobile U.S. Inc.

TMUS, -1.68%

and Sprint Corp.

S, -1.89%

wrapping up in the next six months. The stock, which closed Friday at a 5-month low, had tumbled 28% since closing at a 17-month high of $43.26 on July 23 through Friday. In comparison, the S&P 500

SPX, -2.59%

has lost 5.3% since July 23. Prentiss said he likes Dish whether it stays a PayTV-only operator with a significant 5G spectrum portfolio, adds wireless operations based on regulatory settlements when the T-Mobile-Sprint merger closes or gets additional benefits from a settlement in T-Mobile-Sprint’s legal dispute with state attorneys general.

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