According to a research call made on Tuesday to the
satellite radio provider, Sirius XM Radio Inc(NASDAQ:SIRI) stocks are worth far
more than what they are currently being priced at. The current trading does not
do justice to the price up to which the stocks should go up to. The stocks for
the satellite radio provider have had people vouching both for, and against it.
But the stock remains a very popular name in the trading sector, and it
recently went up by 5 cents to $2.62 on Tuesday. This has lead to a multi-year
high for Sirius XM Radio.
The Bank of America, Merrill Lynch, however, has
been suggesting that the stock should go up to $3.75, making it a 46%
increment. According to the estimations and assessments of the financial firm,
the stocks will be going up in price soon. This has lead to a buy rating from
the bank, thereby, giving it coverage.
Will
SIRI Continue To Hit New Highs? Find Out Here
After Liberty Media invested in the company, which
had been abandoned by many on account of its huge debts, Sirius XM Radio has
been doing well for itself since 2009. The debts, however, are still an issue,
being priced at about three billion dollars. But after the investment of
Liberty Media, it has been going upwards, steadily. A 26-time increment in your
earnings was granted on your share worth a dime during that phase.
The Bank of America Merrill Lynch target is much
higher than that of the other analysts. The bank has vouched for the company,
far more than the average expectations by other analysts, which has been
estimated at $2.75, thereby making the estimate of BofA Merrill, a full dollar
more than that of the average call.
Liberty hopes to own about 50% or more of the
company, and to that effect, has steadily been buying shares to the company
which was formed, when Sirius satellite Radio and XM Radio merged into a
composite company. The radio satellite company has undoubtedly been very
popular, and has names such as Howard Stern associated with it.
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