Barrington Research Bullish Coverage On Sirius XM Holdings

In a report released Tuesday, Barrington Research analyst James Goss released coverage on Sirius XM Holdings Inc.

while reaffirming its Outperform rating. Analyst at Barrington favor Sirius ability to consistently increase revenue, Sirius revenue increased by 9.9 percent from Q2 2013. Sirius currently displays EBITDA margins of 35.8 percent compared to 28.1 percent year-over-year and free cash flow of $335.0 million. Sirius reported a heavy increase in new subscribers, adding 1.5 million subscribers in 2014. The Barrington note focused on Sirius vehicle segment, representing nearly 27 percent of total vehicles domestically, with a projection of nearly doubling to 120 million in the next five years. The current insall rate is 70 percent on new vehicles.