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OH NO: Sirus and XM Stocks Take a DIVE

Goldman slashes stock target on deteriorating outlook for pay radioGoldman Sachs offered an even gloomier forecast for XM and Sirius Thursday. Citing a dramatic slowdown in subscriber growth, high debt costs, refinancing pressure and a shrinking trend in revenue per customer, Goldman analyst Mark Wienkes cut his XM (XMSR) price target to $6.50 from $11.50 and reduced Sirius (SIRI) to $1.75 from $2.25. The $1.75 price on Sirius assumes the proposed mer er with XM is approved – on a stand alone basis, Wienkes values Sirius at $1.

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