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Dish Network (NASDAQ:DISH) got some good news today, as Credit Suisse analyst Stefan Anniger raised his price target on shares from $34 to $38. This comes on news the company sales agents are reporting more new subscribers, and more customers opting in for the pricier Hopper service.
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Dish has about 14 million subscribers, making it the third largest television signal provider. Comcast (NASDAQ:CMCSA) and DirectTV (NASDAQ:DTV) take the first two spots. Annigner notes that Dish expects to raise the price of its packages by $5 per month next year, which will raise per user revenue an average of 3.4 percent.
This good news is shadowed by the company’s two major lawsuits. Dish dropped AMC Networks (AMCX) in June over a fee dispute, but AMC claims Dish violated a long-term agreement carry agreement and is suing for $2.5 billion. CBS (NYSE:CBS), NBC (NASDAQ:CMCSA), and Fox (NASDAQ:NWS) are suing over Dish’s Hooper, a DVR that allows customers to skip commercials, which the networks say violate their licensing agreements.
If Dish can dodge litigation, a growing customer base willing to pay for pricier packages could see shares push towards Anniger’s modified target.
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