Sirus Satellite Radio "outperform," target price raised

11/29/04 - Bear Stearns

NEW YORK, November 29 (newratings.com) - Analysts at Bear Stearns reiterate their "outperform" rating on Sirus Satellite Radio (SIRI). The target price has been raised to $7.50.

In a research note published this morning, the analysts mention that the company’s growth would be driven in the near future by the increasing popularity of satellite radio and the company’s new products. Sirus Satellite Radio is expected to sign additional agreements in the near future for distribution and content, Bear Stearns adds.