XM Satellite Radio Holdings Inc. (XMSR) Message Board

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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR)

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To: Guy Gadois who wrote (2165)	2/16/2006 12:05:52 PM
From: sixty2nds	Read Replies (1) of 3386

10:14 XMSR XM Satellite: potential buying opportunity on pullback this morning- Oppenheimer (24.50 -0.75) -Update- Oppenheimer expects XMSR to maintain its lead in the industry as it is expected to double its 2004 subscriber count by 2006 and more than triple it by 2008 to 16 mln. The firm says although XMSR's stock appears relatively expensive by most conventional metrics, adjusting the co's enterprise value to rev multiple by its 2004-2008E rev compound annual growth rate reveals a PEG-type ratio below both cable and satellite TV operators' ratio, and 50% below that of Sirius Satellite Radio (SIRI). The firm notes this morning, XMSR reported mixed 4Q05 results and disclosed that one of its board directors had resigned. They expect the stock to pull back significantly this morning in response to this news. They view the pullback as a buying opportunity because they expect XMSR will appreciate in 2006 due to stronger retail sales from the roll-out of their MP3 player and the realization that the Delphia bankruptcy will not impact product availability.

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