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Fly News Breaks for February 4, 2020
SIRI
Feb 4, 2020 | 13:48 EDT
Commenting on quarterly results, Barrington analyst James Goss says Sirius XM key metrics continue to grow as business model evolves. The analyst notes that Sirius XM continues to offer an "excellent" business model with "solid" organic revenue growth and cash generation, with more opportunities to reach consumers through Pandora. Strong cash flow supports additional share repurchases, on which management is being aggressive, he adds. Goss also argues that the roughly 17M annual rate of new car sales remains at sufficiently healthy levels to support subscriber growth, as churn remains at near record low levels. He reiterates an Outperform rating and $8.50 price target on the shares.
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