XM A Long Term Play
April 7, 2006
James Dix of Deutsche Bank sees XM Satellite Radio as a potential long term play.
Dix cited a strong first quarter, and anticipated strong OEM installations in 2007 as major factors in his sentiment, and stated, "We continue to like XM (symbol XMSR) as a play on long-term satellite radio industry growth".
On the OEM subject Dix also noted that Nissan and Hyundai will begin ramping OEM installation of XM in their model year 2007 vehicles, which should boost fourth-quarter OEM subscriber growth. We continue to see 2006 as a careful balance of growth and cost for XM, while awaiting the Japanese OEM cavalry in 2007."
Dix has XMSR at a "Buy" with a price target of $33.
Forbes.com has an article about the subject
here.
The link to this write up is:
http://tinyurl.com/q3sa94/07/2006 12:12:00 PM
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