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Technology Stocks : Sirius Satellite Radio (SIRI)

SIRI 20.15

-1.1%

Feb 3 3:59 PM EST

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To: HEXonX who wrote (6561)	2/28/2007 10:29:43 AM
From: HEXonX	Read Replies (1) of 8420

businessweek.com Sirius Satellite Radio (SIRI) Maintains 3 STARS (hold) Analyst: Tuna Amobi, CPA, CFA After pre-announced net subscriber additions of 905,000, Sirius posted a fourth quarter loss per share of 17 cents vs. a 23-cent loss one year earlier, 3 cents and 2 cents narrower than S&P and Street views. Except for churn and retail slowdown, we see improving metrics, including subscriber acquisition costs, average revenue per user and auto OEM gains. Sirius guides, in our view, cautious 2007 2 million net adds, with $1 billion total revenues (vs. 2006's $637 million), 2.2%-2.4% churn (vs. 1.9%) and $95 acquisition cost per subscriber (vs. $114). We are cautious on regulatory outlook for pending merger with XM Satellite Radio (XMSR) and are keeping our target price of $4.50 on relative enterprise value/sales.

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