• Dow Jones, Wednesday, December 14, 2005 10 AM

Howard Stern is over-hyped, said an analyst at Bank of America, who downgraded the company's rating for Sirius Satellite Radio from neutral to a sell. Analyst Jonathan Jacoby said the stock has gotten ahead of itself amidst all the hype surrounding Stern's move to Sirius, which occurs in five days. In a note, Jacoby said that field checks show that Sirius isn't poised for the "blowout" subscriber growth it expected this quarter in anticipation of Stern's move, something the current stock price discounts. Further, he adds that the Stern show's 18 percent ratings nosedive this summer shows that the impact of his arrival at Sirius remains unknown. Jacoby said the valuation gap between Sirius and XM, which is valued lower on Wall Street but has nearly twice as many subscribers, will right itself. B of A recommended that investors sell Sirius and buy XM.

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