Wedbush Comments on SDARS and XM Q1
April 27, 2007
XM Satellite Radio (XMSR- HOLD): Q1 Results Meet Lowered Expectations
- Q1 results in line with low expectations as retail softness continues from last year.
- XM's subscriber results should generally improve from Q1 levels throughout most of the year.
- With guidance, sometimes no change is good news.
- Minor model revisions shave a dollar off our price target.
- We still favor Sirius given its competitive strengths and our perception that the proposed merger's approval is unlikely.
4/27/2007 10:15:00 AM
SSG Has Merged. You Can Read All Of The Latest SSG Content By Clicking Here
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