Feb 21 2006 Sirius Investors Could Evolve Into More Serious Investors Morgan Stanley maintained an "overweight" rating on Sirius Satellite Radio after the celestial radio provider reported fourth-quarter results last Friday "We think [Sirius'] consistency delivering on its guidance and its focus on cost and free cash-flow yield will help evolve the shareholder base in 2006," said Swinburne.
The research analyst reiterated a price target of $8 on Sirius stock. "While volatility is not likely to reduce in the near-term, we believe current share levels represent buying opportunities."
Sirius, which also announced plans to launch a live portable device by the middle of the year, "is demonstrating that it does not have a technology disadvantage relative to XM," the analyst added.