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Technology Stocks : Sirius Satellite Radio (SIRI)

SIRI 20.60

-0.3%

Dec 26 9:30 AM EST

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To: Esoteric1 who wrote (1025)	11/8/2004 10:28:38 PM
From: Esoteric1	Read Replies (1) of 8420

Sirius Satellite Radio upgraded to "outperform" Bear Stearns Thursday, September 30, 2004 3:51:09 AM ET NEW YORK, September 30 (newratings.com) - Analyst Robert S Peck of Bear Stearns upgrades Sirius Satellite Radio (SIRI.NAS) to "outperform." The target price is set to $4.40. Sirius Satellite Radio is a provider of premium satellite radio services in the US. According to Bear Stearns' research note published yesterday, the company has been witnessing consistent growth over the past one year. The analyst expects Sirius Satellite Radio's market share to expand to 40% due to the company's partnerships with Ford and Chrysler. The company is likely to benefit in the forthcoming months from its broadening distribution channels, advanced technology, unique programming and expanding OEM distribution network, Bear Stearns mentions. Sirius Satellite Radio would be launching its new Gen 2.5 products on September 29 amid the media and investment community in New York City, the analyst says. Extensive media coverage and marketing initiatives are likely to boost the company's subscriber growth in the near term, according to Bear Stearns. The analyst expects Sirius Satellite Radio to witness healthy earnings growth in the forthcoming quarters due to a decline in the Subscriber Acquisition Costs (SAC) and an increase in the company's free cash flows. There is significant upside potential to the company's share price in the long term, the analyst believes. Bear Stearns upgrades Sirius Satellite Radio to "outperform."

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