Banc of America Analyst Jonathan Jacoby is no longer under the employ of the Bank. Sirius Buzz has learned that the analysts last day with Banc of America is today. Jacoby has been a common subject among satellite radio watchers. His coverage of the sector has been on the bearish side, with reports often seeming to add fuel to the fire on the negative side on any news be it good or bad.
There has been no statement issued by Banc of America and no announcement has been made as to whether the financial institution will name a new analyst to cover the sector, or simply drop coverage altogether. No news has circulated on where Jacoby might land. Those that feel positive on the satellite radio sector will likely be happy with the news. Jacoby's last report has a price targets at the low end of analyst ranges for both Sirius and XM.
Position - Long Sirius, Long