SIRI: Auto Sales Expectations Still Suggest Gold, Guns, Canned Tuna and Glenn Beck

Analysts at Wunderlich Securities reiterate their "hold" rating on SIRIUS XM Radio SIRI. The target price for SIRI is set to $1.25. SIRI’s sales in early May were light, but there “should be some Memorial Day boost.” According to the analysts, “Key SIRIUS partner Ford F should have a 15%+ gain off a strong product line even with less aggressive incentives relative to OEMs such as Toyota TM. Toyota is expected to lose May share even with its National Sales Event, particularly helping Lexus.” “An 11.7 mm run rate v. WSI's current 11.2 mm increases upside to near $1.40, and a 16.8 mm rate toward $2.75. What matters LT is normalized vehicle replacement rather than 2010 sales, but the market remains disinclined to pay up for "normalcy" and instead favors gold, guns, canned tuna, and Glenn Beck, “ according to Wunderlich Securities. More Analyst Ratings here