Sirius XM (NASDAQ:SIRI) got a price target increase from Wunderlich Securities analyst Matthew Harrigan today, bumping it up from $1.75 to $2.00 a share.
Assuming normalized auto sales in the U.S. are close to 15 million by 2015. If Sirius can hold off better against competitors like Pandora and others, which could take an estimated 40 percent of share from Sirius, they could become a $3 stock, according to Harrington.
Harrigan pointed out that Pandora at this time has 80 million users and 1.4 billion channels, which accounts for half of all Internet radio listening. Pandora just filed for a $100 million IPO on Friday.
Commenting on the fourth quarter, Harrigan said increased its subscriber base by 297,000 subscribers.
He estimates revenue to come in at $741 million, and operating income to be $131 million.
Sirius reports before market open on Tuesday morning.
Sirius was trading at $1.83 , down $0.01, or 0.54 percent, as of 2:57 PM EST.
Monday, February 14, 2011
Sirius XM (NASDAQ:SIRI) Gets PT Boost from Wunderlich
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1 comment:
My $3,000 dollar investment in SIRI is worth over $65,000 dollars in 2 years with Sirius XM (SIRI). I had no idea there was a documentary about the history of Sirius XM and how it all started. Very amazing story. You can see the doc anytime at http://TheHistoryOfSirius.com
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