Sirius Satellite Radio (SIRI) Message Board

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Technology Stocks : Sirius Satellite Radio (SIRI)

SIRI 20.39

-1.0%

10:04 AM EST

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To: Esoteric1 who wrote (1077)	11/19/2004 8:33:14 AM
From: Esoteric1	Read Replies (2) of 8420

07:08 SIRI Sirius Satellite upgraded to Mkt Perform at Wachovia (4.72 ) Wachovia upgrades SIRI to Mkt Perform from Underperform and raises their valuation range to $4.50-$5.50 from $2.50-$3.00 following the news that Mel Karmazin was named CEO. Firm believes that the move provides a huge boost of confidence in satellite radio and SIRI in particular, and notes that the co has undergone an extraordinary transformation in the last few months from a co teetering toward bankruptcy (massively behind their only competitor) to arguably a co that in some respects is on an equal footing with XMSR. Firm now assumes that SIRI should represent approx 45% of the satellite radio industry value, vs 35% previously.

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