Could June Auto Sales Help Sirius XM?
FBR analyst Barton Crockett issued a note Wednesday reiterating his Outperform rating on Sirius XM (NASDAQ: SIRI), 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.
Shares of Sirius XM are up about 0.73 percent.
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