Wunderlich Securities Raises SIRIUS XM Radio PT Ahead Of Tomorrow's Results

In a report released this morning, Wunderlich Securities said that it is raising its price target on Buy-rated SIRIUS XM Radio

to $1.75 ahead of tomorrow's full results announcement. “The increase is largely off a higher 12.0mm 2011 U.S. SAAR assumption, with reversion to a 15.0mm vehicle run rate happening only in 2015,” Wunderlich Securities writes. “Encouragingly, Ford (F-NR) suggested yesterday that the October SAAR result should equate to 12.0mm in vehicle sales for the first time since cash for clunkers, but this may not be sustainable.” SIRIUS XM Radio currently trades at $1.57.