Analyst David B Kestenbaum of Independent Research Group upgrades XM Satellite Radio (XMSR.NAS) from “neutral” to “buy.” The target price is set to $40.

In a research note published this morning, the analyst mentions that the company is currently adding new subscribers at a robust pace. Independent Research Group considers the current valuation of XM Satellite Radio’s stock attractive, ahead of the seasonal strength across the satellite radio market during the holiday season and the upcoming Consumer Electronic Show scheduled for January next year.

XM Satellite Radio upgraded to “buy” - update

Recent Entries

• Research and Markets: The Advertising Revenue for the Satellite Radio Stations XM and Sirius is Predicted to Be Worth $481.6 million by 2012
• SIRIUS SATELLITE RADIO TO PROVIDE COMPLETE SIDELINE TO SIDELINE COVERAGE OF SUPER BOWL XL IN DETROIT
• SIRIUS Satellite Radio Names Andreas Lazar Senior Vice President, Business Development
• Unexpected findings about Satellite Radio
• XM Satellite Radio Class Action suit over “commercial free”
• Satellite Radio will be the next Satellite TV
• Combating Satellite Radio
• Satellite Radio devices the hottest Christmas present in Canada
• XM on your XBox 360
• XM and Sirius Listener Comparisons

This entry was posted on Tuesday, November 30th, 2004 at 10:59 pm and is filed under XM Satellite Radio. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.