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S&P Says: Stern, Sirius Won't Overtake XM


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#1 of 1 OFFLINE   Ronald Epstein

Ronald Epstein

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Posted November 28 2005 - 12:34 AM

S&P Says: Stern, Sirius Won't Overtake XM

As reported by Forbes, Standard & Poor's Equity Research analyst Tuna Amobi has reiterated a "buy" rating on XM Satellite Radio and raised the price target to $36 from $33. In a research report, Amobi attributed the action to "robust holiday sales of retail subscriptions to XM's portables, led by Roady2 and SKYFi2."

"We assume the 2006 debut of jock Howard Stern on rival Sirius Satellite Radio will boost overall awareness for satellite radio, without tilting XM's long-term leadership of the category," Amobi said. The analyst rates Sirius at "hold."

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