XM Satellite Radio shares surged nearly 10%
Wednesday, January 10, 2007
XMSR stock rose 10% to 16.65$ after received a positive note from Citigroup analyst Eileen Furukawa that lifted her 12 month price target on XM Satellite Radio to $21 from 16$.
This upgrade was based in the increasing numbers of customers who buy cars and trucks equipped with XM radios that perhaps sign up the service, also she added the possibility of a merger with rival Sirius Satellite Radio probably during this year. She maintained her buy rating on XM shares.
As I have mentioned in my commentary during the post of the weekend, XMSR still trading in an uptrend, showing strength when moves up. The technical chart looks Bullish with MACD again back above 0, RSI is rising in the Bullish territory and stock price trading above 20,50 and 200 dma.
This upgrade was based in the increasing numbers of customers who buy cars and trucks equipped with XM radios that perhaps sign up the service, also she added the possibility of a merger with rival Sirius Satellite Radio probably during this year. She maintained her buy rating on XM shares.
As I have mentioned in my commentary during the post of the weekend, XMSR still trading in an uptrend, showing strength when moves up. The technical chart looks Bullish with MACD again back above 0, RSI is rising in the Bullish territory and stock price trading above 20,50 and 200 dma.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
