NEW YORK ( TheStreet) -- Dish Network ( DISH - Get Report) shares were climbing nearly 6% on Thursday after Credit Suisse issued a research note discussing AT&T's ( T - Get Report) possible interest in buying the satellite company.

AT&T may be interested in Dish, Credit Suisse analyst Jonathan Chaplin said in a research note on Thursday, for its wireless-spectrum assets.

AT&T could get "two pieces of highly valuable spectrum" through the acquisition, Chaplin said.

"What AT&T believes, I think, is if you bundle Dish and AT&T wireless on a national basis, that would reduce churn for all products and potentially drive penetration," Chaplin said.

AT&T may be looking for more ways to increase customer loyalty and expand its U-verse TV and Internet services, Chaplin said, as subscribers cut home-phone lines and the wireless industry becomes increasingly competitive.

Dish founder and CEO Charles Ergen, who is also the CEO of EchoStar Communications ( SATS - Get Report), has been increasing the company's efforts to acquire spectrum assets. Dish recently announced that it will acquire satellite operator DBSD for about $1 billion.

Now, AT&T could be willing to pay more than $20 billion for Dish and EchoStar.

Chaplin maintained his outperform rating on the stock in his note. Dish shares rose 6% to $23.87 in midday trading on Thursday.

--Written by Theresa McCabe in Boston.

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