Upgrade's Uplifting for XM

Satellite-radio providers were getting a lift Thursday after Credit Suisse upgraded XM(XMSR Quote), the most-used name in the space, to outperform from neutral.

Analyst Bryan Kraft reiterated his stock price target of $17, saying the potential reward outweighs the risk now that XM has reduced its subscriber-growth guidance to a number that's more achievable.

Kraft also noted that gross subscriber-acquisition costs have retreated from higher levels. Shares of XM were recently up $1.13, or 9%, to $13.64. ...