XM SATELLITE (XMSR)

[trade2much]

Good news for XM!

Street Praises XM Results

While XM Satellite Radio's first quarter subscriber report offered no big surprises (during
the first week of April, the company said it had more than 76,000 customers at the end
of the three-month period), analysts still praised the service for its efforts.

Last week, XM released final first quarter results, which included a report that at the end
of the period it had 76,242 paying listeners. After reviewing the results, James Marsh of
Robertson Stephens said the company "continues to make substantial progress and
leaves us confident that our 2002 subscriber estimates will be achieved."

Marsh maintained his 2002 subscriber estimate of 348,307 and $18 price target. He also
reiterated the firm's "Buy" rating on XM shares.

Armand Musey of Salomon Smith Barney said XM continues to demonstrate strong
execution for its months-old service. He cited the company's new distribution
agreements with Volkswagen, Nissan, Wal-Mart and DirecTV as key positives, along with
XM management guidance suggesting that the satellite radio service will be in 6,000
points of sale by the third quarter.

Also last week, Merrill Lynch raised its rating on XM to "buy" from "neutral" after the
company reported "on-track" first-quarter results. "XM remains focused on execution,
which we view as the most sensible approach to removing the most meaningful
uncertainty, subscriber growth," a research note from the firm said.

http://www.skyreport.com/