Dish Network gets analyst upgrade

Dish shares upgraded to 'buy' from 'hold

NEW YORK -- Dish Network shares may have fallen more than 5% Thursday after a court loss to TiVo, but Collins Stewart analyst Thomas Eagan sees that as a chance to buy.

In a research note Friday, he upgraded Dish shares to "buy" from "hold." His price target on the stock is $30.

"We expect that the bulk of the negative impact of this ruling is now in the stock," he argued. While Wall Street financial estimates might come down over the next week, "the passing of this last major obstacle is more important to investors."

Eagan suggested that the legal issue is the last major obstacle for investors, "because the company's fundamental turn-around is well under way" thanks to its recent return to subscriber growth.