From Radio Ink.com
Barronâ€™s reports that with approximately 21% upside to the $7.75 price target, theyâ€™re raising their rating on shares of Sirius Satellite Radio to Outperform from Market Perform.
Sirius ended the third quarter with 2.17 million subscribers and remains poised to end 2005 with over three million subscribers.
Barronâ€™s expect the majority of subscribers to be signed up through the retail channel, driven primarily by promotions surrounding the current NFL season, the arrival of Howard Stern in January 2006 and the upcoming holiday season.
Barronâ€™s continues to view Sirius as fully funded to reach cash-flow break even by 2007.