The firm said it lowered its rating on the pay TV provider based on its belief the stock's upside is limited, in spite of the recent auction price.
"Incentives for entities involved in AWS auction are varied: DISH is incentivized to bid aggressively in the AWS auction given the importance to its equity," Barclays said.
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"At the same time others who have been discussed as potential partners of DISH (like Verizon (VZ) ) have an incentive to acquire the spectrum in key markets even if they are interested in acquiring DISH in the future, in order to have more time to negotiate. Consequently, we believe it is not entirely fair to extrapolate an auction price for the spectrum held by DISH," the firm added.
The firm has a $64 price target on DISH stock.
Separately, TheStreet Ratings team rates DISH NETWORK CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DISH NETWORK CORP (DISH) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."