Dain Rauscher Wessels Introduced Coverage On Two Telematics Companies With Buy Ratings
13 July 2000
Dain Rauscher Wessels Introduced Coverage On Two Telematics Companies With Buy Ratings
MINNEAPOLIS--July 13, 2000--Dain Rauscher Wessels equity analyst Jonathan Lawrence today introduced coverage on two telematics companies.-- Sirius Satellite Radio Inc. , $45.38, with a
Buy-Speculative Risk rating. Lawrence has a 12-month price
target of $60. Sirius intends to provide nationwide satellite
digital audio radio service (SDARS) to the automotive
telematics market beginning in early 2001.
-- XM Satellite Radio Holdings Inc. , $39.38, with a
Buy-Speculative Risk rating. He has a 12-month price target of
$49. XM Satellite is one of two FCC-licensed SDARS providers
and plans to initiate service during early 2001.
"SDARS represents the first major revolution in radio in nearly a century," Lawrence said in a report. "It offers 100 channels (50 music/50 non-music) compared to 10 to 15 for AM/FM radio in even the largest markets. Listeners will be able to enjoy digital sound quality and nationwide coverage, which means they can travel from New York to California without changing the channel."
Institutional investors interested in receiving more information should contact their Dain Rauscher Wessels salesperson. Media interested in receiving Lawrence's reports should call 612-371-7752.
The Dain Rauscher Wessels division includes equity research, equity trading, institutional equity sales and corporate finance. The division's 36 analysts focus on five industries: consumer, energy, financial services, health care and technology. Currently, the analysts follow more than 400 companies. The division, which employs 350 people, has offices in Austin, Texas; Boston; Chicago; Dallas; Houston; Menlo Park, Calif.; Minneapolis; New York City; Paris; San Francisco; Seattle; and Tel Aviv, Israel(a).
Minneapolis-based Dain Rauscher Incorporated provides investment services to individual investors and small businesses through offices in 26 predominantly western states, investment banking services to corporations and municipalities nationwide, and trade clearing and settlement services to nonaffiliated broker-dealers throughout the United States and abroad. Dain Rauscher Incorporated, one of the nation's largest full-service securities firms, is a member of the New York Stock Exchange and other major securities exchanges, as well as the Securities Investor Protection Corp. Dain Rauscher Corporation, its holding company, trades on the New York Stock Exchange under the symbol DRC. The company's headquarters are located at Dain Rauscher Plaza, 60 S. Sixth St.
Dain Rauscher Incorporated makes a market in Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc. and may act as principal with regard to sales or purchases of this security.
Additional information on the securities mentioned is available on request. This does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. DRI, its officers, directors, affiliates, and/or employees (including the authors of this report) may from time to time have a long or short position in publicly or privately issued securities of companies mentioned or derivatives thereof and may sell or buy such securities for their own or related accounts. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
(a)Strategic alliance with Tamir Fishman & Co.