Pivotal Research Group analyst Jeffrey Wlodarczak cut DISH Network Corp.'s rating to "hold" from "buy" following the company's deal to buy EchoStar Corp.'s broadcast satellite service division and signals from regulators that they may approve the T-Mobile US Inc.-Sprint Corp. deal.

In a May 20 research note, Wlodarczak said the potential approval of the merger between T-Mobile and Sprint could significantly push back the timing for a DISH spectrum deal.

The analyst lowered the price target on the company's stock to $33 from $37.

After receiving a series of additional commitments from T-Mobile and Sprint, U.S. Federal Communications Commission Chairman Ajit Pai said May 20 that he is ready to recommend the pending merger between the two wireless operators for approval.