Maxim Group Maintains a 'Buy' on Sirius (SIRI) and Liberty Media (LMCA); Q2 Preview
Get Alerts SIRI Hot Sheet
Price: $3.02 -4.43%
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
12 Buy, 10 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
Maxim Group maintains a 'Buy' on Sirius XM Radio (NASDAQ: SIRI) and Liberty Media (Nasdaq: LMCA) price targets $3.20 and $138, respectively.
Analyst, John Tinker, said, "SIRI should report 2Q12 on August 7, 2012 at 8AM following their July 9, preannouncement of record net subscriber addition of 622,042 (up 38% y/y) in 2Q12, compared to our estimate of 417,249 and 2Q11 net adds of 452,147 (down 23% y/y). Net subs additions in 2Q11 were down due to disruption in car sales caused among Japanese car manufacturers. 2Q12 net subs additions were impressive, up 7% over 2Q10 net additions. The record-breaking net subs addition suggests a very strong 2Q12, despite economic uncertainties and the price hike that began in January 2012 (prices were raised from $12.95 to $14.49). Additionally, new car sales for 2Q12 came in at 3.8M – higher than our estimate of 3.5M, which probably helped strong net subs adds. For FY12, we estimate total car sales of 14M, compared to the consensus estimate of 14.1M."
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 $2.11 yesterday.
Analyst, John Tinker, said, "SIRI should report 2Q12 on August 7, 2012 at 8AM following their July 9, preannouncement of record net subscriber addition of 622,042 (up 38% y/y) in 2Q12, compared to our estimate of 417,249 and 2Q11 net adds of 452,147 (down 23% y/y). Net subs additions in 2Q11 were down due to disruption in car sales caused among Japanese car manufacturers. 2Q12 net subs additions were impressive, up 7% over 2Q10 net additions. The record-breaking net subs addition suggests a very strong 2Q12, despite economic uncertainties and the price hike that began in January 2012 (prices were raised from $12.95 to $14.49). Additionally, new car sales for 2Q12 came in at 3.8M – higher than our estimate of 3.5M, which probably helped strong net subs adds. For FY12, we estimate total car sales of 14M, compared to the consensus estimate of 14.1M."
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 $2.11 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Citi Upgrades Sirius XM Radio (SIRI) to Neutral, 'risk-reward is balanced at prevailing levels'
- Meta Platforms Inc. (META) PT Lowered to $575 at UBS, 'shares are offering a 3-to-1 skew'
- Align Technology (ALGN) PT Raised to $375 at Piper Sandler
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Maxim GroupSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!