UPDATE: J.P. Morgan Moves DISH Network to Neutral Following Potential T-Mobile Deal

In a report published Wednesday, J.P. Morgan analyst Philip Cusick moved DISH Network (NASDAQ: DISH) from a Not Rated designation to a Neutral rating and $43.00 price target.

In the report, J.P. Morgan noted, “Following a period of restriction, we are moving to a Neutral rating and a December 2013 price target of $43 (Neutral rating and December 2013 $43 price target prior to restriction) from a Not Rated designation. On Friday Dish stopped its pursuit of Sprint and Clearwire and redeemed debt that had been specifically raised to support a Sprint bid. While this closes one potential avenue for Dish, we believe that an acquisition of T-Mobile remains a possibility (WSJ – June 21) and is the most likely next step. We first wrote about the potential for Dish to buy T-Mobile US in January 2012, and we refresh that thinking here, including a look at an outright acquisition or investment into TMUS that would leave Dish with control.”

DISH Network closed on Tuesday at $40.03.