XM Satellite Radio "outperform"

12/27/05 - Bear Stearns

NEW YORK, December 27 (newratings.com) - Analyst Robert S Peck of Bear Stearns reiterates his "outperform" rating on XM Satellite Radio (XMSR). The target price is set to $40.

In a research note published on December 23, the analyst mentions that the company’s net additions are likely to be 1.02 million during the quarter, as compared to 930,000 for Sirius Satellite. According to the analyst, XM Satellite Radio is expected to achieve the six million milestone on December 26, while Sirius would have reached the three million mark on December 20. The company is likely to have witnessed substantial net adds during the most recent week ended December 23, Bear Stearns adds.