Analysts Proffer Stealth Upgrades to Sirius XM Radio Stock by: Satwaves August 20, 2009 | about: SIRI Satwaves Follow210 Followers 10 Following You are currently following Satwaves
Stop FollowingYou are no longer following Satwaves About this author: Satwaves' articles on Seeking Alpha Visit: Satwaves.com Font Size: PrintEmail TweetThis by Brandon Matthews As the bullish catapult formation confirms itself today, my attention has again turned to analyst recommendations. It has struck me as odd that no recent equity upgrades have been announced, despite the fact that Standard & Poor's last week upgraded Sirius XM Radio’s (SIRI) debt rating. As it turns out, last week Reuters upgraded shares of SIRI from neutral to outperform based mostly on technical factors. Schwab likewise upgraded the equity to outperform on the 14th. I had been expecting an upgrade from S&P’s Tuna Amobi following the Satellite Radio provider’s outstanding second quarter results, which have now resulted in Sirius XM shares annihilating the analyst’s .50 price target as the stock is currently trading above .61 with no signs of slowing down.
Today, Jaywalk updated its report on Sirius XM Radio. The report (click to enlarge) is a summarized consensus based on multiple research analysts. The report reveals that as of July 31, 2009 there were 7 sell ratings out of 18 analysts that provided research on Sirius XM Radio. As of today, that number has dropped to just 3, as 4 of the research providers have upgraded Sirius XM Radio to Hold from Sell and Strong Sell ratings. Two of the most bearish analysts who had strong sell ratings on the equity upgraded Sirius XM shares 2 notches to Hold in just the last three weeks. |