June 20, 2006
Satellite Standard Group keeps you informed.
Today Banc Of America analyst Johnathon Jacoby reiterrated his "BUY" rating on XM Satellite Radio, but lowered his price target to $22.00.
He also has lowered his price target on Sirius from $5.00 to $4.50
In the past Jacoby has taken a Market Cap value approach to the sector in setting price targets for Sirius and XM.
In the first quarter Jacobys opinion that Sirius at $5.00 was viable with XM at $30.00. Since then he has lowered targets on XM by 27% while lowering SIRI by 10%. It would appear that at least to some extent he has changed his opinion on Market Cap valuation of the equities.
6/20/2006 09:00:00 AM
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