Analyst comments from Janco this morning--XMSR
July 12, 2006XM Satellite downgraded to Market Perform from Buy at Janco- tgt cut to $17 from $36 (14.04 )www.briefing.com, 6/12/2006, 9:20 am
Janco downgrades XMSR to Market Perform from Buy and cuts their tgt to $17 from $36 saying despite the confluence of missteps and untimely negative events, they held steadfast in their belief that stricter cost discipline, the generation of positive cash flow from operations and the ramp in factory install programs in 2007/2008 would set the stage for upside to subscriber expectations and upside in the stock. However, the firm says they now expect that the nature of the factory install programs with Hyundai/Nissan/Toyota coming online in 2007/2008 will result in short term inflation of traditional cost metrics (SAC & CPGA), as expenses are likely to be incurred well in advance of any recognition of a gross subscriber addition.
7/12/2006 09:31:00 AM
SSG Has Merged. You Can Read All Of The Latest SSG Content By Clicking Here
0 Comments:
SSG is not a Financial Advisor. Read Disclosure: HERE
--------------------------------------------------------
