SATWAVES

SIRI: A look At Sirius XM Radio’s Debt Refinancing (Part 2)

By Brandon Matthews (Please read part 1 first) In part 1, I hope to have conveyed some information on negative debt covenants, the capital structure of Sirius XM Radio (NASDAQ: SIRI) and highlighted its improved debt maturity schedule. The negative debt covenants written within the notes that will soon be retired are too numerous to discuss within a single report. However, there is another specific "negative covenant" that I would like to highlight. This one has to do with potential synergies...

SIRI: Wunderlich Securities Analyst Issues Bullish Update On Sirius XM

By Brandon Matthews Wunderlich Securities Equity Analyst, Matthew Harrigan, issued an updated report this morning on Sirius XM Radio (Nasdaq: SIRI) on the heels of the auto results issued yesterday. As in his previous report, Harrigan remains extremely bullish on Sirius XM's long term business model. In the report, Harrigan maintains his Hold opinion and $1.00 near term price target on near term economic concerns, yet suggests longer term price targets of $1.85 and $3.50 respectively as auto ...

Weak Auto Sales Causing “Sirius” Concern

By Brandon Matthews Shares of Sirius XM Radio (NASDAQ: SIRI) have been one of the largest benefactors of an expected recovery in the auto sector. Unfortunately, that recovery has not yet materialized. From a satellite radio perspective, January new car sales data came in weak. Projections for February now appear even weaker. Last week, Edmunds.com projected modest rises to be reported this week when compared to the lows established in the sector last February, and suggested that the numbers s...

Analysts Offer Different Views Following Sirius XM Report

By Brandon Matthews On the heels of Sirius XM Radio's (NASDAQ: SIRI) fourth quarter and full year 2009 operating results, several key analysts have revised their targets for the satellite radio provider last week. The common denominator of all remains a position that Sirius XM should benefit from a recovery in the auto sector, and improved liquidity. Standard & Poors' Tuna Amobi raised his price target to $1.50 from $1.00, citing improvements in key metrics and favorable 2010 guidance ...

Liberty CEO Confirms Potential Buyout of Sirius XM

By Brandon Matthews Sirius XM Radio (Nasdaq: SIRI) reported its 2009 operating results on Thursday, which by any measure were no less than outstanding. Sirius reported positive earnings as a follow up to its pre-announced subscriber numbers, several weeks ago. Most had expected to see an increase in subscriber acquisition costs (SAC) and a decrease in average revenue per user (ARPU). That was not to be the case as Sirius XM reported that (ARPU) grew to $10.92 from $10.65, and a year over year...