Sirius Goes From Hold To Buy…

Wednesday, July, 2, 2008 by Mel Phillips.

Although I have no vested interest in the proposed XM-Sirius merger, it’s a relief to see that someone has confidence that it not only will happen but the company, at least Sirius, is a good investment right now.  That’s the only explanation for Merrill Lynch’s Glen Campbell raising his rating on Sirius from hold to buy.  He is however trimming his price target from $2.80 to $2.70.  Thinking more like a ‘Rhinestone Cowboy‘ than a broker, Campbell says the upgrade reflects the recent decline in the stock, the upbeat post-merger guidance the company has provided and the “imminent approval” of the merger…

Campbell believes that satellite radio should become more appealing and affordable post merger with tiered and a la carte pricing in place…

I am certainly not an expert on the stock market but it would appear to me that lowering the price target while upgrading the stock from hold to buy is a bit odd but hey, what do I know?  In the meantime, the last price I saw for a share of Sirius ($1.92) still won’t buy you a gallon of gas…       

10 Timeline Memories:

1. 1881]  Gunned down:  President James A. Garfield  is shot by Charles J. Guiteau at the Washington railroad station. He never fully recovers and will die from his wounds on September 19th…
2. 1937] Poof: Aviator Amelia Earhart  and her navigator disappear over the Pacific Ocean near the equator while attempting the 1st round-the world flight…
3. 1955] Start-uh the bubble machine-uh: “The Lawrence Welk Show” premieres on ABC-TV. It will run for 16 years and then forever in rerun for all of eternity. If we turn on our TV when we take our last breath we’ll see Lawrence Welk holding his baton…
4. 1961] Death by suicide: Author Ernest Hemingway, 62, shoots himself to death in his home in Ketchum, Idaho…
5. 1964] Civility Rules: President Lyndon B. Johnson signs into law, a sweeping civil rights bill…
6. 1981] The Boss opens the Brendan Byrne: Bruce Springsteen plays the 1st show ever at 21,000 seat Meadowlands Arena…
7. 1994] A tough crowd: Colombian soccer star Andres Escobar  is shot to death in Medellin 10 days after accidentally scoring a goal against his own team in World Cup competition. At least they don’t do that here - yet!!!
8. 1997] “Happy Trails“: James Stewart  dies at 89 from cardiac arrest…2006] Comedian Jan Murray, 83, dies from complications brought about by asthma…
9. 2002] Up, Up and Away: American Steve Fossett becomes the 1st person to fly a balloon solo around the world…
10. 2005]  Live 8, a marathon concert designed to pressure world leaders into fighting African poverty is held at 10 sites worldwide and broadcast around the globe on TV and the Internet.  Paul McCartney & U2 performed together as seen here…

 Music Memories:

• 1966]  Number One on this date:  “Windy” - Association…1976]  “Silly Love Songs” - Wings…

“Happy Birthday…happy birthday“:

Lindsay Lohan (22), Ashley Tisdale (23), Michelle Branch (25), Troy Brown (37), Jerry Hall (52), Luci Baines Johnson (61), Larry David (61), Polly (”Alice“) Holliday (71), Richard Petty (71), Ahmad Jamal (78) and Imelda (”Shoes”) Marcos (79)…

Timeline Countdown: 2 days until July 4th, 13 days until the MLB All-Star Game and 37 days until the Summer Olympics…

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