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Sirius XM: Goldman Cuts Target to 25 Cents, Trims Revenue Estimates

in News on October 28, 2008 at 11:33 am PT

According to Mark Wienkes of Goldman Sachs, the company’s equity holders face “near-certain dilution via either higher interest charges or new share issuance. …” Given the facts of falling satellite radio demand in general and Sirius XM’s inability to cover operating expenses in particular, it seems like the company’s equity is headed in the wrong direction, and pretty quickly.