Ant & Sons: Is The Market Wrong or Right?
Is the Market Wrong on XM Satellite, Sirius Radio?
10/06/2006 1:30 PM EST,
www.antandsons.comXM Satellite Radio Inc. (Nasdaq: XMSR) seemed to bottom out in July, when four major brokerage firms, including Janco Partners, Morgan Joseph, UBS and CIBC World Markets downgraded the stock. However, starting in late August, Bear Stearns upgraded XM Satellite shares to an “outperform” rating and Credit Suisse followed up with an upgrade to “outperform.” Suddenly, the stock price reversed on the dramatic turnaround in analyst opinion.
In a note to investors, Credit Suisse analyst Bryan Kraft said that “management's guidance now implies realistic assumptions for retail gross additions.” Basically, he believes that previous subscriber guidance issued by management was a bit lofty and that with a much more reasonable forecast, XM Satellite has a better chance of meeting and possibly even beating expectations....read more:
here10/06/2006 04:46:00 PM
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