Sirius XM Holdings Inc (SIRI)

[Mt bigsky]

MARKET TALK: Sirius a Buy as Focus Can Shift to Operations -BofA
Last update: 10/2/2012 8:26:23 AM
8:26 EDT - Bank of America Merrill Lynch says now is the time to buy into the satellite radio business, initiating Sirius XM Radio (SIRI) at buy as the change of control into Liberty Media (LMCA) seems more likely, allowing company to concentrate on providing premium content and a growing subscriber base. While losing CEO Mel Karmazin is a true risk, firm says SIRI's "best days are ahead, as the automobile sales recovery chugs along." Firm doesn't see LMCA keeping control of SIRI, expecting a quick exit through a tax efficient Reverse Morris Trust. BofA puts a $3.75 price target on the shares, which are up 2.9% premarket to $2.64. ([e-mail])
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(END) Dow Jones Newswires
October 02, 2012 08:26 ET (12:26 GMT)