Maxim Group Maintains a 'Buy' on Sirius XM Radio (SIRI); Record 1Q12 Net New Sub Additions

Maxim Group maintains a 'Buy' on Sirius XM Radio (NASDAQ: SIRI) price target of $3.20.

Analyst, John Tinker, said, "SIRI reported 1Q12 revenues of $805M (up 11% yr/yr) slightly below our estimates of $807M but above consensus estimates of $803M. EBITDA of $208M (up 15% yr/yr) was slightly below, both our estimate of $211M and consensus estimates of $210M...SIRI reported record 1Q12 net subscribers’ addition, of 404,596 subscribers, for a total subs base of 22.30M vs. our estimates of net subscribers’ addition of 291,161 for a total base of 22.18M and consensus estimates of 299,000.

For an analyst ratings summary and ratings history on Sirius XM Radio click here. For more ratings news on Sirius XM Radio click here.

Shares of Sirius XM Radio closed at $2.26 yesterday.

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