SIRIUS Satellite Radio signs an exclusive deal with Rolls Royce

01/13/06 - newratings.com

NEW YORK, January 13 (newratings.com) - Sirius Satellite Radio Inc (SIRI) Wednesday announced that it has entered into an exclusive agreement with Rolls Royce (RR-GBX) to fit Sirius radios as standard equipment in all Rolls-Royce vehicles sold in the US, including a lifetime subscription to the service.

PRNewswire quoted one of Sirius’ OEMs as saying that the unique programming of Sirius Satellite Radio complements the luxury of a Rolls Royce car. SIRIUS Satellite Radio recently entered the Canadian market through partnerships with Canadian broadcasters. According to Forbes, analyst Susan Kalla of Caris & Company believes that the company's Q1 subscription results would be ahead of the expectations.

Analysts at Stifel Nicolaus & Company have upgraded Sirius Satellite Radio Inc to "buy." The target price has been set to $8.25. In a research note published this morning, the analysts mentioned that the recent depreciation in the company's share price offers an attractive investment opportunity. Sirius Satellite Radio is poised to benefit from the anticipated growth in the satellite radio subscriber base to about 50 million during the mid-next decade. The company's Q4 subscription results were ahead of the estimates, Stifel Nicolaus & Company added.