By Demian Russian
BGB Securities Media Analyst Murray Arenson will be discussing his thoughts on Sirius XM Radio (NASDAQ:SIRI) in an exclusive, live interview with Playground Radio — tonight, Wednesday, February 9th, 2011, at 8:00PM Eastern.
After previously covering Sirius XM while at Janco Partners, Arenson initiated coverage of Sirius XM for BGB Securities in March of 2010 with a BUY rating and a $1.15 price target. Arenson then raised his price target to $1.35 on May 5th, 2010 on the heels of Sirius XM’s 2010 Q1 results. Arenson again reiterated his BUY rating and $1.35 price target on August 5th, 2010 following Sirius XM’s 2010 Q2 results. On October 14th, 2010, Arenson raised his price target from $1.35 to $1.50, but downgraded his rating from BUY to HOLD due to valuation concerns.
In his October research report, Arenson made it clear that he was pleased with how the company was operating and that he still saw further upside, noting that there must be a 15% or greater forecasted upside over the next 12 months to qualify for a BUY rating according to BGB Securities’ investment rating system. Following Sirius XM’s 2010 Q3 results last November, Arenson reiterated his HOLD rating and $1.50 price target. While Arenson saw “continued operational strength” in the company’s Q3 results, Arenson saw the stock being “fairly valued.” While Arenson noted at the time of his reiteration that “Sirius continues to execute well, with strong subscriber growth and expense management,” he also said, “Our valuation analysis remains unchanged since last month. We ascribe a value of $489 per subscriber.”
With Sirius XM’s successful contract renegotiation with Howard Stern, auto sales coming in so strong, and the stock running into the $1.80′s, what does Murray Arenson think of Sirius XM and the valuation now? Does he see SIRI as being fairly valued, undervalued, or overvalued? What does he attribute the stock’s recent run to? What will he be looking for in Sirius XM’s Q4 results to be announced on February 15th? Tune in for Playground Radio live tonight at 8:00PM ET to hear the answers to all of these questions and many more.
Murray Arenson, BGB Securities Media Analyst
Murray Arenson has covered the Media and Media Technology Industries for more than twelve years and worked for Nielsen Media Research, the media industry’s leading research company, prior to joining the financial ranks.
Mr. Arenson is a two-time Wall Street Journal All-Star Analyst, including a ranking as the Number One analyst in the Cable and Entertainment industry and a position on the Wall Street Journal’s Home-Run Hitters Team (ranking No. 4 among analysts in all industries with highest portfolio returns).
Mr. Arenson has been widely quoted in trade, financial, and general media, including CNBC, Investor’s Business Daily, New York NewsDay, Los Angeles Times, Bloomberg News, Cable World and MultiChannel News. Mr. Arenson was previously an analyst with Ferris, Baker Watts, Inc. Prior to that, he was the President of Mosaic Equity L.L.C., an independent research firm serving institutional investors. He has also been an analyst with Morgan Keegan & Company, Hoak Breedlove Wesneski & Co., and Rauscher Pierce Refsnes, Inc. Mr. Arenson received an M.B.A. from Southern Methodist University and a B.A. from Washington University.
Tonight’s interview with Murray Arenson will be conducted by Satellite Radio Playground’s Demian Russian and Brian Newman Rayl. Playground Radio can be heard live every Wednesday at 8:00PM Eastern. Previous episodes of the show, including previous Playground Radio interviews with Murray Arenson, are also available to be streamed and downloaded as an Mp3 file or via iTunes. Further information about Playground Radio can be found at the Playground Radio Home Page. Tonight’s episode of Playground Radio can be heard live at 8:00 p.m. ET via the following link:
Disclosure: Long SIRI
Contact the author: DemianRussian@SatelliteRadioPlayground.com
