XM Satellite Radio upgraded to "buy"

07/30/07 - Janco Partners

NEW YORK, July 30 (newratings.com) - Analyst April Horace of Janco Partners upgrades XM Satellite Radio Holdings Inc (XMSR) from "market perform" to "buy." The target price is set to $15.

In a research note published on July 27, the analyst mentions that the company’s stock is trading in-line with that of SIRI since the announcement of the merger. XM Satellite Radio’s share price might appreciate by 20% going ahead, if XM Satellite Radio’s merger with SIRI is approved, the analyst says. XM Satellite Radio has reported its 1Q results in-line with expectations, with higher-than-expected net subscriber additions, Janco Partners adds.