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XM Satellite, satellite radio catching on -Barron's


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#1 OFFLINE   salogdbs

salogdbs

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Posted 17 February 2003 - 01:24 PM

XM Satellite, satellite radio catching on -Barron's
Sun February 16, 2003 06:02 PM ET
NEW YORK, Feb 16 (Reuters) - XM Satellite Radio Holdings Inc. XMSR.O is poised for growth as satellite radio is catching on and drawing favorable reviews from subscribers, Barron's reported in the cover story of its Feb. 17 issue.
XM is leading its rival Sirius Satellite Radio Inc. SIRI.O , which got a later start and has less than one tenth the subscriber base of XM, Barron's said.

General Motors Corp. GM.N is aggressively pushing satellite radio, and fans of the service see it becoming standard in new cars, Barron's said.

Bear Stearns' satellite analyst recently upgraded XM to a rating of "peer perform" from "underperform" and raised his price target to $9 per share, Barron's said.

XM expects to have more than a million subscribers at the end of the year, Barron's said. If it has 10 million by 2007, it could earn $1.50 per share, supporting a $30 to $40 share price, the publication said.

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