NEW YORK (
TheStreet) -- Shares of
Sirius XM Radio
(SIRI - Get Report) have been "horrendous" ever since the deal with
(LMCA) fell through, according to
TheStreet's Jim Cramer, co-manager of the
Action Alerts PLUS portfolio.
The deal would have been advantageous for investors, he added, but just because it wasn't completed doesn't mean the stock isn't worth owning.
He said Sirius is attractive at current levels because the company has strong cash flow, solid management and is a play on new car sales. Earlier this month, the company announced that it will resume its share buyback program, which should also provide some level of support.
"At this point," Cramer concluded, "you want to own the business."
- - Written by Bret Kenwell in Petoskey, Mich.