Maxim has imitated coverage on Sirius XM and established a $1.40 price target. The firm believes satellite radio has only 8% penetration in U.S. autos with plenty of room for growth. They also project 27 million subscribers by the end of 2014 and believe that revenue from that base will be substantial.
Position – Long Sirius XM
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This is getting with the program!!!
Pop Quiz for Sirius Buzz readers . . . now put on your thinking caps:
Which one doesn’t belong and why?
BGB Securities – Murray Arenson $1.35
Janco Partners – Martin Pyykkonen $1.40
Barrington – James Goss $1.25
Lazard – Barton Crooked $1.35
Miller Tabak – David Joyce $1.25
Wunderdich Sec – Matt Hooligan $1.50
Standard & Poors – Tuna Amobi $1.50
RBC – David Bank $1.00
Maxim – $1.40
According to Maxim:
“The firm believes that Sirius XM Radio Inc. is the “Amazon.com” of the radio space.”
David Bank doesn’t belong. SIRI is already at $1, and Bank allows for no growth at all which IMHO is stupid.
Nice work “Indy” . . . well done! I am exempting you from the final exam . . .
yet we sit at $1….Hmmmmm ??
SIRI is the best long term stock available buy it now set on it for a few years and make enough money to payoff your mortgage, send your kids to collage…
Thks for the article
Thanks Spencer you are the only one with this upgrade story. And to think, you told us for free.
The analyst contends that the stock is attractive. “Given SIRI’s potential 24% EBITDA compound growth rate over the next five years, we believe that a 14.5x 2011 EV to EBITDA multiple is reasonable and would take the stock to $1.40,” he writes. “The quality of the franchise and the company’s growth prospects, combined with its operating and financial leverage, suggest that a premium is justified.”