Lehman Upgrades Sirius to Overweight this Morning
May 30, 2006
Lehman upgrades Sirius, sees buying opportunity
By Aude Lagorce
Last Update: 4:49 AM ET May 30, 2006
LONDON (MarketWatch) -- Lehman Brothers upgraded Sirius Satellite Radio (
SIRI) to overweight from equal weight, saying that while the stock has traded down in sympathy with peer XM Satellite Radio Holdings Inc (
XMSR), it doesn't believe the move was justified.
The broker told clients that recent negative headlines were specific to XM and shouldn't have affected the sector. Lehman said it would be aggressive buyers of both satellite radio stocks following the recent weakness.
5/30/2006 05:28:00 AM
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