Morgan Stanley said Sirius Satellite Radio (nasdaq: SIRI - news - people)
should see solid second quarter results driven by stronger sales through
Ford and Chrysler, along with continued subscriber growth, according to a
research report published Friday.
"We are encouraged by its strong second-quarter subscription performance of
600,000 net additions compared to our estimate of 530,000," wrote Benjamin
Swinburne, an analyst for the research firm.
"Likely driving the better results [estimates] were stronger original
equipment manufacturer sales through Chrysler and increasingly Ford," he
said.
The analyst also said that he expects Sirius's market share of 55% to "hold
up."
"Consumers are better responding to its programming lineup compared to
competitor XM," he said. "We think the share levels are a sign of
programming lineup and marketing message, not Howard Stern-related 'buzz.'"
Swinburne maintained his "overweight" rating as well as a price target of
$8.
The New York-based company is set to report earnings on Aug. 1.
Using two different names in your own post? Who is the imbecile, Emu?