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Sirius XM Holdings Inc. Message Board

  • jcola34 jcola34 Oct 8, 2012 8:16 PM Flag

    Sirius XM: Q3 Subscriber Growth Could Top Ests, ISI Says

    Sirius XM: Q3 Subscriber Growth Could Top Ests, ISI Says
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    October surprise?

    ISI Group analyst Vijay Jayant thinks Sirius XM could surprised the Street with better-than-expected subscriber growth for the third quarter, thanks largely to surprising strength in September auto sales. He now sees Sirius posting 456,000 net adds for the quarter, up from previously expected 336,000. He notes that September U.S. auto sales came in at an adjusted annualized rate of 14.9 million, above his forecast of 14.1 million.

    Jayant writes in a research note that he is keeping his Q4 net add forecast at 460,000, reflecting “some caution ahead of the potential fiscal cliff.”

    The analyst adds that he “would not be surprised” if the company pre-announced strong results, perhaps in connection with Liberty Media’s analyst day taking place on Wednesday.

    Jayant maintains his Buy rating and $3 target on Sirius; he repeats his Buy rating on Liberty Media, which owns just under half of Sirius, while boosting his target to $123, from $115.

    Sentiment: Strong Buy

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