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Technology Stocks : Sirius Satellite Radio (SIRI)
SIRI 20.31-0.1%2:38 PM EST

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To: Esoteric1 who wrote (1065)11/18/2004 9:34:29 AM
From: Esoteric1  Read Replies (1) of 8420
 
Friedman, Billings, Ramsey & Co., Inc. (SIRI)
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18 November 2004, 07:46am ET

SIRI: Reit Outperform - Howard Stern is scheduled to make two public appearances promoting Sirius today. We view these appearances as positive catalysts for Sirius` sales ahead of the holidays. We are modeling 334,347 net new subscribers in 4Q, equating to 45% of net new subs in 2004. Mr. Stern`s added promotion could enable Sirius to surpass our 2004 year-end forecast of one million subscribers, which we expect investors to view as a major milestone. As Sirius continues to execute on its strategy and approaches cash flow breakeven, we expect Sirius to assume a lower risk profile, which should contribute to share appreciation.

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