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Thread: Merrill Lynch Upgrades SIRI to Buy

  1. #1
    zcurzan is offline
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    Merrill Lynch Upgrades SIRI to Buy

    Finally some other analysts are weighing in besides Wienkes. It's not much to read (no target, no guidance) but, hey, its an upgrade.

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    July 1, 2008 6:51 AM EDT

    Merrill Lynch upgrades Sirius Satellite Radio, Inc. (Nasdaq: SIRI) from Neutral to Buy.

    Sirius Satellite Radio, Inc. provides satellite radio services in the United States.

    Source: http://www.streetinsider.com/Upgrade...y/3783470.html

  2. #2
    zcurzan is offline
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    From Yahoo boards, didn't have a link so take it for what its worth. Looks legit to me:

    Rating Changes
    Sirius Satellite Radio Inc. (SIRI, US$1.92, C-1-9) Up to Buy
    on price weakness, bullish view on synergies.
    We are upgrading our rating for SIRI from Neutral to Buy & Lowering PO from
    $2.80 to $2.70 following the substantial recent decline in the shares & the release
    of bullish management guidance for 2009. Weak auto sales create a risk to our
    near-term subscriber forecasts but should have only a minor impact on long-term
    value. Refinancing of XM’s debt is under way. Sirius management has announced
    preliminary 2009 post-merger guidance, including $400mn in merger synergies,
    positive free cash flow & $300mn in EBITDA. We estimate that the current share
    price is discounting ~30mn subs in 2017E with a terminal margin of 37%

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