$SIRI Multiple Firms Raises Price Targets
> Sirius XM Issued a Buy Rating, $4 Target (oct 20 2012)
SIRIUS XM Radio Inc. (NASDAQ:SIRI) has been added to Bank of America Merrill Lynch’s U.S. 1 List based due to underlying growth in the OEM auto market as well as opportunities in the secondary auto market. Shares have a Buy rating and a $4 price target .
Source here
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> Barrington Boosts PPS from $3 to $3.75 Target on Sirius XM Radio $SIRI (Nov 5 2012)
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Sirius XM Radio (NASDAQ: SIRI) had its price target increased by Barrington Research from $3.00 to $3.75 in a research report released on Monday morning . Barrington Research currently has an outperform rating on the stock.
A number of other analysts have also recently weighed in on SIRI. Analysts at Wunderlich raised their price target on shares of Sirius XM Radio from $2.50 to $2.70 in a research note to investors on Tuesday, October 16th. They now have a hold rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Sirius XM Radio from $2.60 to $2.85 in a research note to investors on Monday, October 15th. They now have an equal weight rating on the stock. Finally, analysts at Zacks downgraded shares of Sirius XM Radio from an outperform rating to a neutral rating in a research note to investors on Friday, October 12th. They now have a $2.75 price target on the stock.
Shares of Sirius XM Radio traded down 2.59% during mid-day trading on Monday, hitting $2.825. Sirius XM Radio has a one year low of $1.61 and a one year high of $2.97. The company has a market cap of $14.668 billion and a P/E ratio of 5.62.
Sirius XM Radio last issued its quarterly earnings data on Thursday, November 1st. The company reported $0.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.02 by $0.01 . The company had revenue of $867.00 million for the quarter, compared to the consensus estimate of $865.62 million. Sirius XM Radio’s revenue was up 13.6% compared to the same quarter last year . On average, analysts predict that Sirius XM Radio will post $0.54 earnings per share for the current fiscal year .
Sirius XM Radio Inc. broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems.
http://www.jagsreport.com/2012/11/barrington-...adio-siri/
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> Morgan Stanley, Other Firms Raise Price Target with a Buy ratings raising their target prices to $4.00 & $5.50 per share (Oct 16, 2012)
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Sirius XM (NASDAQ:SIRI) received a vote of confidence Monday after analysts at Morgan Stanley raised their estimates and price target on the satcaster’s stock.
In their note to investors, the analysts at Morgan Stanley reiterated their Equal-Weight rating on Sirius and provided reasons why they believe the company has a solid fundamental outlook going forward. Sirius exceeded expectations for its fiscal third quarter and added more new subscribers than predicted, leading Morgan Stanley to increase its price target from $2.60 to $2.85 .
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Other investment firms have also made Sirius the subject of recent research reports, with conclusions on how to handle the stock varying. Analysts at Bank of America and TD Securities have each separately upgraded to Buy ratings on Sirius stock , raising their target prices to $4.00 per share and $5.50 per share, respectively. Zacks analysts, on the other hand, downgraded Sirius stock from Outperform to a Neutral rating on Friday, and adjusted their per-share price target down to $2.75.
October 16, 2012
Source: http://wallstcheatsheet.com/stocks/sirius-mor...rget.html/
> SiriusXM Hits 4-Yr High; Merrill, Citi See Big Buyback with a Buy rating and $3.75 price target (Oct 02 2012)
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Sirius XM: shares are trading higher Tuesday after the satellite radio company received the endorsement this morning from analysts at both Citigroup and Bank of America/Merrill Lynch.
Bank of America Merrill Lynch analyst Jessica Reif Cohen launched coverage of the company with a Buy rating and $3.75 price target . She writes that the company is “a business with scale enjoying accelerating growth due to a revived auto market.” While noting thqt there are near-term concerns around Liberty Media‘s intentions with regards to its nearly 50% stake in the company, she thinks there will be a focus on buybacks and an a tax-effective spinout of the Sirius stake to Liberty holders. The wild card, she notes, is whether CEO Mel Karmazin would stay on if the ownership structure changed. She concludes that the stock is “a compelling value.”
Citigroup analyst Jason Bazinet repeated his Buy rating on the stock, upping his target to $3 , from $2.50 . He also upped its rating on Liberty Media to Buy form Neutral, setting a price target of $121. Bazinet’s logic is similar. He notes that Liberty over the past few months has spent over $1.4 billion to boot its stake in Sirius to 49.6% from 40%. The analyst expects Liberty will cross the 50% level later this year. Once that happens, he sees three alternatives : The company launches a “reverse Morris Trust” transaction (basically spinning off the Sirius stake to holders) ; Sirius launch a repurchase program followed by a reverse Morris Trust deal in 2014 ; or a big stock repurchase but no reverse Morris Trust . His thinking is that Liberty will not immediately undertake a Morris Trust transaction. Ergo, he thinks Sirius will instead launch a $3 billion stock repurchase program.
Oct 02 2012 Source: http://www.forbes.com/sites/ericsavitz/2012/1...r=yahootix
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