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BofA Analyst Prefers XM to Sirius, Believes Merger Likely
While a merger between XM and Sirius appears “more likely, given recent commentary by management and numerous press articles,” Bank of America securities analyst Jonathan Jacoby has downgraded XM from Buy to Neutral, writes Radio Ink.
While he has downgraded his rating on XM, he still prefers XM to Sirius.
In order to clear regulatory hurdles before the ‘08 elections, a merger would have to be announced within the next four to eight weeks, says Jacoby.