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Friday, April 27, 2007

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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