By Brandon Matthews
In a research report issued today, Senior Entertainment, Cable & Satellite Equity Analyst Tuna Amobi of Standard & Poors U.S. Equity Research maintained his HOLD opinion and $1.00 price target on shares of Sirius XM Radio (SIRI). Satwaves will be broadcasting a live, exclusive interview with Tuna Amobi tonight at 9 PM EST on Satwaves Radio.
Mr. Amobi increased his 2009 year end subscriber estimate to 18.7 million subscribers from 18.2 million. He also increased 2010 year end guidance from 18 million subscribers to 19 million subscribers, as I had speculated just days ago that he would do.
Mr. Amobi raised his 2010 revenue estimates as well to 7.5% growth in 2010, to more than $2.6 billion. Despite the company offering guidance of just over 400 million in adjusted EBITDA, Mr. Amobi expects “over $584 million of 2009 adjusted EBITDA, advancing to $738 million in 2010 on improved variable contribution margins, declining SAC and other income from pass-through music royalties.”
The analyst was impressed by Sirius XM Radio’s third quarter results and expects further benefits from an improved outlook for U.S. auto sales in 2010. He also remains “cautiously optimistic on certain new applications for iPod/iTouch users which, over the longer term, could help stimulate demand and reduce churn.”
He also noted an enhanced debt maturity profile for Sirius XM debt, which S&P views as “critical,” and remains cautious on an anemic retail sales channel.
Position: Long SIRI
Update:
S&P Revises Sirius XM Outlook To Positive From Stable
3:52 pm ET 11/11/2009- Dow Jones
How can he have a price target which equates to over a 50% gain over current levels and not have a “Buy” rating on the stock. Makes no sense, and basically discredits his entire report. Strap on a pair Tuna.
so, if im reading this correctly, hes projecting only a 300k net gain of subs for 2010??
Mr. Amobi is on show #13…..Lucky 13 !!!!
no….he will be on show number 14
Rick Aristottle Munariz of the Motley Fools is paid to mislead investors about Sirius XM Radio. He is part of a news media collusion lead by CNBC and their own Jim Cramer. Jim Cramer’s street.com web site is also hip deep into the collusion. Jim Cramer and his writers, especially Scott Moritz are all part of the scandal and it leads upward to CNBC/GE executives and Goldman Sachs. Thank god their is now an investigation taking place with Goldman Sachs. Goldman Sachs was investigated and 10 firms, including Goldman Sachs were fined $1.4 Billion dollars in 2003. Now the full blown investigation by Boston’s Chief Financial Regulator William Galvin will reveal the corruption of Goldman Sachs again and I can only hope that William Galvin will follow the money trail and check the bank accounts of Rick Aristottle Munariz of the Motley Fools along with Scott Moritz of the Street.com Just check these 2 writers banking accounts and the investigation will reveal that they are being paid off to write mis-leading stories about Sirius XM Radio. The money trail from these 2 writers will lead to >>> Motley Fools >>> Street.com >>> Jim Cramer >>> CNBC >>> GE / CNBC executives >>> NAB >>> Goldman Sachs.
It has all been a news media collusion along with the combination of Wall Street corruption by Goldman Sachs to destroy Sirius XM Radio inc. by naked short selling, flash trading, superfast computers, using secret software to manipulate the Sirius XM Stock price in decimal places the past few years since the Siri /XM merger was announce in Jan 2007. It was a pact agreed to by the news media and Goldman Sachs, which is why CNBC keeps reporting positive story after positive story about Goldman Sachs. All are into this collusion knee deep and this is why they will not report Goldman Sachs and their biggest scandal in the history of Wall Street.
Goldman Sachs got greedy. The scandal with Sirius XM Radio, worked so well with their secret software that was making them millions of dollars a day. Well, their Greed expanded into not just naked shorting & decimal place trading Sirius XM radio, but Goldman Sachs, next said , heck this secret software works so well, along with CNBC’s cover up lets do it to our competition the banking industry. Goldman Sachs next used these tactics on the banking industry in 2008 – 2009. They have been protected by CNBC by paying CNBC millions of dollars a month in advertising or shall we say paid protection.
Goldman Sachs greed almost ruined this country when they began using naked shorting and their secret software to attack the banks. It was their Greed of making millions using this software attacking Sirius XM Radio and when they expanded their scandal to the banking industry, they were now making over $100 million dollars a day. This is a fact, as Goldman Sachs made over $100 million dollars a day in 46 of 64 trading days last Quarter 2009 ( April , May, June 2009 ).
CNBC is part of the scandal, taking in million a months from Goldman Sachs for their silence. Why wouldn’t Goldman Sachs pay CNBC millions of month, that was nothing to them, since they are making over $100 million dollars a day. They helped CNBC try to ruin the competition ( Siri ) and now CNBC will help them ruin the other Banks. A true partnership by Goldman Sachs & CNBC.
The scandal lives on today, but thankfully the investigation by William Galvin will be expanded into the news media collusion of CNBC, Motley Fools & Street.com along with many other news media types.
Their Greed and goals have cost the average investors of the World hundreds of billions of dollars the past few years. In the end the truth is going to come out, but how does the people of the World hear the truth when the news media is part of the Scandal.
Well, a few years ago, CNBC & Goldman Sachs would have gotten away with it, but thank you http://www.Satwaves.com , http://www.twitter.com/stockshockmovie and the many social media outlets and bloggers out there. Thank you for helping bring the truth to the World. Each day we get closer and closer to the biggest scandal in the history of the United States. ( Written by Richard Keane – August 30th, 2009 )
“Mr. Amobi remains cautious on an anemic retail sales channel.” I think the advertising campaign that starts on sunday should get things moving a bit on that front. After all Mel said at the CC that would be the largest in the company’s history.
I am listening to the replay. Brandon said the word EBITDA about 150 times so far. Cool
Just a note – it’s pronounced Janco Partners not Yanco Partners.
Good show. Amobi was very informative.
You guys are really learning media.
Brandon, XM to launch Nov 17-30 free two week trial on any vehicle currently equipped with XM. The trial will feature 60 channels. Also, a holiday special running until Dec 15 for five months for $20 and they will waive the activation cost. Spread the word.