Market Overview

UPDATE: Goldman Sachs Initiates Sirius XM Radio at Buy on Cash Flow, Returns

Related SIRI
Wunderlich Securities Sees Optimistic Forecast For Sirius XM Holdings Inc.
Sirius XM Holdings Inc. Boosts Subscriber Growth Outlook 14%

Goldman Sachs initiated coverage on Sirius XM Radio (NASDAQ: SIRI) with a Buy rating and a $3.50 price target.

Goldman Sachs noted, "We believe Sirius XM offers investors a mix of robust growth along with accelerating profitability and free cash flow that exceeds peers. Despite its performance year to date (+59% vs. S&P 500 +13%), we see incremental upside to the stock via greater than expected growth in free cash flow (FCF) and FCF/share estimates. We expect SIRI to utilize FCF and an under-levered balance sheet (in accommodative fixed income markets) to aggressively repurchase shares, shrinking share count by 20% through 2015E and 45% over the next ten years."

Sirius XM Radio closed at $2.92 on Monday.

Latest Ratings for SIRI

DateFirmActionFromTo
Apr 2014WunderlichMaintainsHold
Apr 2014Buckingham ResearchInitiates Coverage onBuy
Mar 2014BarclaysUpgradesEqualweightOverweight

View More Analyst Ratings for SIRI
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Initiation Intraday Update Analyst Ratings

 

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