SATWAVES

BGB Securities’ Murray Arenson Initiates Sirius XM (SIRI) Coverage With A Buy Rating

by Demian Russian BGB Securities Media Analyst, Murray Arenson initiated coverage of Sirius XM (NASDAQ:SIRI) today with a BUY rating and a $1.15 price target. In his report, Mr Arenson argues that Sirius XM "is now a solid cash flow growth story." He notes positive subscriber growth, an improving OEM sector, penetration into the pre-owned auto market, incremental revenue from royalty pass-throughs, cost-cutting merger related synergies and a "substantially improved" balance sheet. Arenson ...

Wunderlich Securities’ Matthew Harrigan Hints at Sirius XM (SIRI) Price Target Upgrade

by Demian Russian In a research note issued today, Wunderlich Securities' Media & Entertainment Analyst, Matthew Harrigan weighs in on Sirius XM's (NASDAQ: SIRI) rise over his initial $1.00 price target, which he "will reassess after next week's earnings release." Mr. Harrigan hints that his price target may likely be upgraded. "Moving our auto sales unit run rate to 11.5 mm from 11.0 mm, about in line with automotive analyst consensus, would bump our price target to $1.25", he hypoth...

S&P’s Tuna Amobi Increases Sirius XM 2010 Subscriber Estimates By 1M

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 ...

Janco Partners Resumes Coverage of Sirius XM Radio: Accumulate

By Brandon Matthews Murray Arenson of Janco Partners has resumed coverage of Sirius XM Radio (SIRI) with an ACCUMULATE rating and a price objective of .80. Stating a belief that Sirius XM has in fact turned away from a subscriber growth story to a cash flow growth story that stems from Sirius XM posting four consecutive quarters of positive adjusted EBITDA. Mr Arenson was also impressed with the statement from Sirius XM that .70 of every incremental dollar of revenue now falls to the botto...

Sirius XM Brand Campaign To Launch This Weekend

By Brandon Matthews About a year ago, I asked an analyst why he felt Sirius XM Radio (SIRI) did not advertise more aggressively. His understanding was that the company had made the decision based on market research, that indicated that the return on ad spending did not justify an aggressive marketing campaign at the time. Typically, he said, most companies look to generate 2 dollars of revenue for every ad dollar spent. As we look back at the economy over the past 12-18 months, we can see how...