What Could June Auto Sales Mean For Sirius XM

Ealier today FBR analyst Barton Crockett issued a note reiterating his Outperform rating on on Sirius XM Holdings Inc.

citing potential upside to the company's shares due to better than expected June auto sales. Crockett noted that the current pace of auto sales may end up proving that FBR's SAAR assumptions of 15.8m-15.9m for Sirius XM are conservative. Additionally, Crockett pointed to self-paid subscriptions as an area for concern. Following the note shares of Sirius Xm are up about 1 percent.