Sirius XM Holdings Inc (SIRI)

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More SIRI News...............
DJ Evercore: Time to Get Bullish on Sirius -- Market Talk
7:16 EST - Sirius (SIRI) has skidded 15% since its soft 3Q report in October, putting shares at a level which "fairly values the core business," says Evercore. But that also means investors are giving "little value" to SIRI's "nascent telematics business, which should see rapid growth in 2014 and beyond." So the investment bank upgrades SIRI to overweight and boosts its price target 60c to $4.50. Connected-car services ala GM's OnStar are seen exploding, with Evercore noting, "The US installed base of cars with embedded cellular connectivity is forecasted to grow 90% over the next 5 years and 450% over the next 10 years (to 154M cars)." That would create a roughly $30B retail market for telematics in the US alone, says Evercore. SIRI rises 2.9% premarket to $3.60. ([e-mail]) (END) Dow Jones Newswires January 03, 2014 07:16 ET (12:16 GMT) Copyright (c) 2014 Dow Jones & Company, Inc.- - 07 16 AM EST 01-03-14

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