Business Services Industry
SG Cowen Begins Coverage Of Sirius
Communications Today, Dec 21, 2001
Investment firm SG Cowen on Thursday began its coverage of satellite radio firm Sirius Satellite Radio [SIRI] with a "neutral" rating and a 12-month price target of $10 a share.
Analyst Robert Kaimowitz said in a research note that the neutral rating is justified because Sirius is more leveraged than rival XM Satellite Radio [XMSR], has a greater potential for a cash deficit and has yet to secure original equipment manufacturer relationships. >TK Globalstar [GSTRF]:
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