UPDATE: RBC Capital Markets Downgrades DISH Network On Lack Of Near-Term Monetization Prospects

In a report published Monday, RBC Capital Markets analyst Jonathan Atkin downgraded the rating on DISH Network Corp (NASDAQ: DISH) from Outperform to Sector Perform, but reiterated an $81.00 price target.

In the report, RBC Capital Markets noted, "We are downgrading DISH as we see few near-term prospects for DISH to monetize its spectrum. The recently concluded FCC auctions have provided the mobile operators with sufficient capacity to meet their needs for the next few years, and there are additional sources of spectrum (Sprint, 600 MHz auctions) that represent competitive supply to DISH's assets."

DISH Network closed on Friday at $75.63.