Sirius XM Radio Inc. SIRI reported better than expected 2Q results, with only equity valuation left to question, JP Morgan reports.
JPM expects FY10 EBITDA of $610M, up 32% y/y and ahead of the company's $575M guidance, which JPM views as conservative. 1.3M subscribers are expected to add in 2010, expected to surpass the 20M subscriber mark by year end.
JPM maintains its "neutral" rating, while acknowledging the risk of Howard Stern's departure and also the slight recovery in new car sales, there are many factors limiting the company's upside.
Sirius XM Radio Inc. closed yesterday at $1.06.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Posted In: Analyst ColorEarningsLong IdeasNewsMarketsAnalyst RatingsBroadcasting & Cable TVConsumer DiscretionaryJP MorganSirius XM Radio
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in