Market Overview

Will Sirius (SIRI) Exceed Its EBITDA Guidance?

Bank of America initiated coverage on Sirius XM Radio Inc. (NASDAQ: SIRI) with an Overweight rating.

The favorable attributes of Sirius include 1) a subscription-based business that has permitted the company to weather the economic downturn 2) a sizeable subscriber base 3) a relatively small (less than 10%) penetration rate of the entire domestic automobile base 4) a credit trajectory at a favorable inflection point and 5) strategic asset value.

Bank of America believes Sirius will comfortably exceed its initial 2009 EBITDA guidance of $300 million.

Posted-In: Bank of AmericaPrice Target Analyst Ratings

 

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