Morgan Stanley Upgrades XMSR, Still Prefers SIRI
May 16, 2006
XM Satellite upgraded to overweight at Morgan Stanley
LONDON (MarketWatch) --
XM Satellite Radio Holdings (XMSR : xm satellite radio hldgs inc)
7:33am 05/16/2006 - SSG brings you the news as it breaks.
XMSR16.96, -0.13, -0.8%) was upgraded to overweight from equal-weight at Morgan Stanley, with the broker saying its potential upside warrants the better rating. "We believe that at current price points, XM is trading on the value of its subscription base projected for 2010. Profitable subscription growth beyond 2010, we believe, is not reflected in the current share price," the broker maintained, holding onto a $31 price target. It added that it still prefers Sirius Satellite Radio (SIRI : sirius satellite radio inc com)
5/16/2006 07:52:00 AM
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