NEW YORK, November 10 (New Ratings) — Analysts at SG Cowen downgrade Sirius Satellite Radio (SIRI) to “market perform.”
In a research note published this afternoon, the analysts mention that Sirius Satellite Radio has projected modest revenue gains from its original equipments manufacturer (OEM) customers in 4Q03. SG Cowen expresses its concern, however, regarding the company’s disappointing retail market share gains in 3Q03, despite its new product launches and aggressive promotional activities.
