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Friedman, Billings, Ramsey & Co. (FBR) brokerage said it began co...

Friedman, Billings, Ramsey & Co. (FBR) brokerage said it began coverage of XM Satellite Radio Holdings with “Accumulate” rating and 12-month price target range of $25-$40 per share. XM Satellite Radio addresses large untapped market, according to Riyad Said,…

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analyst with FBR, and said company “plans on being the cable TV of radio.”