Thursday, November 09, 2006
Sirius Earnings: Analyst Comments Roll In
This post will be updated throughout the day, so keep checking back...Wachovia:Sirius-SIRI downgraded to Mkt Perform from
Outperform@WCHV - Wachovia(theflyonthewall.com 11/09 06:16:19) downgraded shares of SIRI citing the end of its paired trade opportunity with XMSR, aggressive Q4 subscriber forecasts, and weakening consumer interest for satellite radio products. Valuation range $4.00-$4.50.
Morgan Stanley:Morgan Stanley Reiterates Sirius Satellite Radio Inc. At Overweight With $7 Price Target(Realtimetraders.com 11/09 10:05:44)
(RTTNews) - Morgan Stanley Reiterates Sirius Satellite Radio Inc. (SIRI) At Overweight With $7 Price Target
Morgan Joseph:
SIRI Sirius Satellite: Performs again in 3Q06, but churn remains a concern - Morgan Joseph (4.12 )
Morgan Joseph notes SIRI reported 3Q06 revs of of $167.1 mln, in line with firm's $167 mln est. EBITDA loss was $126.6 mln vs. their $150.3 mln est. Reported loss per share of $0.12 compared to their $0.13 est. Firm says the one major concern was an increase in churn to 2.0% vs. their 1.8% est. Overall, they believe SIRI is best-positioned in the industry, given the co's solid new product line-up and continued OEM penetration increases.
11/09/2006 06:31:00 AM
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