http://www.skyreport.com/#Story3
Sirius continues to wow the Wall Street crowd, picking up a nod Friday from Ladenburg Thalmann analyst William Kidd.
Kidd said there's momentum at Sirius to keep the company moving forward, adding that it appears the No. 2 satellite radio player won't easily give up its retain gains.
"After strong net adds growth in fourth quarter and what appears to be an impressive first quarter follow-up performance, there has been considerable conjecture over the 'Howard effect' (referring to radio personality Howard Stern, who joined Sirius in January) and how long it may last," Kidd said. "Although we're forecasting a significant sequential drop in second quarter gross adds, we still expect Howard Stern to be extremely relevant at the point of sale."
Kidd has a "buy" rating and $6 target on Sirius shares.
Meanwhile, Kidd has a "hold" rating on XM shares and a $22 price target.
"We are doubtful that XM will be able to overcome Sirius' retail momentum, driven by the Howard Stern/NFL combo, in any quarterly period in 2006," the analyst said. "Sirius also recently grabbed Volkswagen away from XM and could easily pull another small OEM (original equipment manufacturer - or automaker) over before year-end."
Sirius continues to wow the Wall Street crowd, picking up a nod Friday from Ladenburg Thalmann analyst William Kidd.
Kidd said there's momentum at Sirius to keep the company moving forward, adding that it appears the No. 2 satellite radio player won't easily give up its retain gains.
"After strong net adds growth in fourth quarter and what appears to be an impressive first quarter follow-up performance, there has been considerable conjecture over the 'Howard effect' (referring to radio personality Howard Stern, who joined Sirius in January) and how long it may last," Kidd said. "Although we're forecasting a significant sequential drop in second quarter gross adds, we still expect Howard Stern to be extremely relevant at the point of sale."
Kidd has a "buy" rating and $6 target on Sirius shares.
Meanwhile, Kidd has a "hold" rating on XM shares and a $22 price target.
"We are doubtful that XM will be able to overcome Sirius' retail momentum, driven by the Howard Stern/NFL combo, in any quarterly period in 2006," the analyst said. "Sirius also recently grabbed Volkswagen away from XM and could easily pull another small OEM (original equipment manufacturer - or automaker) over before year-end."
