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They told investors that DISH has built the foundation from which 5G coverage and capacity can be expanded, but the company “cannot do it alone.”
“DISH needs capital to fund critical investments & upcoming maturities,” wrote analysts. “The company also needs to identify a clearer path to take revenue share as a wireless retailer, wholesaler or both.”
Analysts explained they cut the stock as the “substantial capital needs” combined with the drop in market value of its securities have “increased uncertainty and dilution-risk for DISH equity.”
They also noted that DISH revenue exposure seems to be weighing on the tower stocks.
