Wednesday, October 04, 2006

XMSR & SIRI: Analyst Comments Start To Roll In On Q3 Subscribers

Morgan Joseph On Sirius:
(Morgan Joseph had an estimate of 600,000 on Sirius...what were they smoking?)

Morgan Joseph Cuts Sirius Satellite target to $6 from $8 (www.cbsmarketwatch.com)

Sirius Satellite-SIRI Q3 subs disappointing, target lowered to $6 from $8-Buy@MLGA - Morgan Joseph notes that while SIR Sirius Satellite-SIRI Q3 subs disappointing, target lowered to $6 from $8-Buy@MLGA - Morgan Joseph notes that while SIRI's 441.1K net new additions fell below their 600K estimate, the number significantly beat XMSR's additions. MLGA believes SIRI continues to shorten XMSR's lead and they reiterate a Buy rating. (www.theflyonthewall.com)

Morgan Joseph On XMSR:

XM Satellite Radio-XMSR estimates lowered on weak sub additions-Hold
XMSR's 285K net new subscribers feel below Morgan Joseph's 401K estimate and the broker now believes the company will have trouble posting anything above the low end of year-end subscriber guidance. MLGA lowered their 2007 estimate to ($1.02) from (98c).