Wunderlich Stocks has released a research report on Sirius XM Radio after the company shows indicators of positive business regardless of the expectancy for steering walks being doubtful in 2011. In a report, Wunderlich wrote "We are keeping our Buy marking on SIRIUS XM Radio ( SIRI ) and $2 price target, even though with mild dissatisfaction as to 2011 direction even as 4Q actuals surpassed our guesses.
Barring another serious depression that cancels a recovery in auto sales to substitution rate or disruptive fight beyond what it forecast from Pandora, Sirius had about as powerful a subscription financial replica as there is inside media land. This is supported by a gang of sensitiveness research with regard to U.S. Car sales, penetration of the previously-owned-vehicle market, (crucial to constant share advantage) ARPU expansion, also the LT bad effect of Pandora as well as other in-car substitutes."
As described above, Wunderlich retains its Buy ranking and $2 cost target. Sirius XM Radio shuts yesterday at $1.68.
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