Analysts Are Downgrading These 5 Stocks

In this article, we discuss the 5 stocks receiving downgrades from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Downgrading These 10 Stocks. 

05. DISH Network Corporation (NASDAQ:DISH)

Number of Hedge Fund Holders: 35

DISH Network Corporation (NASDAQ:DISH) is a company that provides pay-TV services to customers. They also operate a streaming platform called Sling TV. However, in 2023, DISH Network Corp. (NASDAQ:DISH) has experienced a challenging period, with its stock value decreasing by approximately 50% year to date. The decline can be attributed to concerns about losing subscribers and facing increasing competition in the industry. Despite these challenges, optimistic views suggest that DISH Network Corp. (NASDAQ:DISH) has the potential for long-term growth.

On June 5, Benchmark downgraded DISH Network Corporation (NASDAQ:DISH) from a Buy to a Hold rating and removed their previous price target of $37 on the company’s shares. The recent stock movement, triggered by media reports suggesting a partnership between DISH Network Corp. (NASDAQ:DISH) and Amazon to provide wireless services to Prime customers at low or no cost, is seen by Benchmark as an indication of Dish’s network potential. However, the firm remains skeptical about any immediate initiatives, even prior to denials from Amazon and major mobile network operators (MNOs). The previous price target and fair valuation estimation had considered a 5G O-RAN network model until 2031, and the analyst believes that a fair value in the mid to high $30s is still plausible, considering the recovery of DISH Network Corporation (NASDAQ:DISH) substantial investment of over $30 billion in the spectrum.