# XM Gets Wall Street Boost



## Steve Mehs (Mar 21, 2002)

XM Satellite Radio got a boost Wednesday when a Wall Street analyst raised his ratings on the company's shares.

In a research note, Bear Stearns' Robert Peck upgraded XM's stock to "outperform" from "peer perform." He pointed out strong subscriber growth for the satellite radio service as one of his reasons for the rating jump.

The upgrade sent XM shares up more than 12 percent in trading Wednesday, with the stock closing at $9.20. In addition to the analyst move, XM said its service will be offered as a dealer-installed option on Toyota's 2004 Camry Solara coupe.

From SkyReport (Used with Permission)


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