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SIRI

Sirius XM

$6.65

-0.3 (-4.32%)

, LYV

Live Nation

$47.02

-0.759 (-1.59%)

07:01
06/28/18
06/28
07:01
06/28/18
07:01

JPMorgan views potential SiriusXM, Live Nation deal as unlikely

JPMorgan analyst Sebastiano Petti raised his price target for SiriusXM Radio to $6 from $5 while maintaining an Underweight rating on the shares. The analyst continues to view the valuation as full amid his expectations for slower growth in the years ahead as the business matures. Moderating subscriber gains and a more competitive steaming music landscape have led SiriusXM to explore investments in adjacent platforms in order to fuel additional growth, Petti tells investors in a research note. The analyst, however, does not see the industrial logic of potentially combining SiriusXM with Live Nation (LYV), something he notes that parent Liberty Media has suggested in the past. Petti sees a near-term deal as unlikely and also does not see SiriusXM as a potential takeover target.

SIRI

Sirius XM

$6.65

-0.3 (-4.32%)

LYV

Live Nation

$47.02

-0.759 (-1.59%)

LSXMA

Liberty SiriusXM

$44.27

-1.06 (-2.34%)

SIRI Sirius XM
$6.65

-0.3 (-4.32%)

06/26/18
LEHM
06/26/18
DOWNGRADE
Target $43
LEHM
Equal Weight
Liberty SiriusXM downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Kannan Venkateshwar downgraded Liberty SiriusXM (LSXMA) to Equal Weight from Overweight and cut his price target to $43 from $50, telling investors in a research note that while he has recommended the stock over SiriusXM (SIRI), which was downgraded this morning to Underweight from Equal Weight, given the changing story in SiriusXM equity and its valuation, the current ~30% NAV discount may close due to SiruxXM coming down rather than Liberty SiriusXM going up. The analyst said it is "not surprising" Liberty has been looking at other uses of cash such as iHeart (IHRT) instead of buying more stock.
06/26/18
LEHM
06/26/18
DOWNGRADE
Target $5
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Kannan Venkateshwar downgraded SiriusXM (SIRI) to Underweight from Equal Weight and maintained a $5 price target, telling investors in a research note that while the company's execution remains "exceptional," he believes the company is now in a much more mature phase of its growth cycle and the story is changing. Additionally, the analyst says the room to buy back more stock is likely to become "constrained," margin expansion may become tougher, competitive pressures are likely to increase and M&A may become a bigger priority. The analyst also downgraded Liberty SiriusXM (LSXMA) to Equal Weight.
06/26/18
LEHM
06/26/18
DOWNGRADE
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
06/22/18
SBSH
06/22/18
NO CHANGE
Target $56
SBSH
Buy
Citi sees 'several signs' of SiriusXM possibly acquiring Live Nation
"Several signs" suggest a SiriusXM (SIRI) acquisition of Live Nation (LYN) is possible, including Liberty suggesting that synergies are possible among the firms it owns, Citi analyst Jason Bazinet tells investors in a research note. A combination would create a "vertically integrated music titan" with "several strategic benefits," Bazinet contends. Further, he believes the likelihood of legal approval is high since the deal "would be a clean vertical merger." He raised his price target for Live Nation shares to $56 from $45 and keeps a Buy rating on the name. Bazinet also upped his price target for Neutral-rated SiriusXM to $7.15 from $6.65.
LYV Live Nation
$47.02

-0.759 (-1.59%)

05/04/18
EVER
05/04/18
UPGRADE
EVER
Outperform
Live Nation upgraded to Outperform from In Line at Evercore ISI
04/23/18
NRCS
04/23/18
UPGRADE
NRCS
Buy
Live Nation upgraded to Buy from Neutral at Northcoast
04/10/18
04/10/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ulta Beauty (ULTA) upgraded to Overweight from Neutral at Piper Jaffray with analyst Erinn Murphy citing Piper's 35th semi-annual teens survey in which Ulta Beauty overtook Sephora as the top brand for average-income teens. 2. Nvidia (NVDA) and Seagate (STX) were upgraded to Overweight from Equal Weight at Morgan Stanley. 3. Live Nation (LYV) upgraded to Buy from Neutral at Citi with analyst Jason Bazinet saying the stock has sold off after the New York Times reported that the Department of Justice is investigating the company for antitrust violations. 4. Becton Dickinson (BDX) upgraded to Buy from Neutral at Citi with analyst Amit Hazan saying he sees a "strong setup" for upside to estimates in fiscal 2018, largely driven by the Becton Dickinson side of the business. 5. Illinois Tool Works (ITW) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Joe Ritchie saying the pullback in shares due to auto concerns provides an attractive entry point. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
LSXMA Liberty SiriusXM
$44.27

-1.06 (-2.34%)

06/26/18
LEHM
06/26/18
DOWNGRADE
LEHM
Equal Weight
Liberty SiriusXM downgraded to Equal Weight from Overweight at Barclays

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TEX

Terex

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-0.3 (-0.84%)

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CZR

Caesars

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ERJ

Embraer

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0.17 (0.82%)

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Boeing

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BXG

Bluegreen Vacations

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0.55 (3.95%)

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SM

SM Energy

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-0.13 (-0.76%)

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AN

AutoNation

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TSLA

Tesla

$294.60

3.42 (1.17%)

, NSANY

Nissan

$0.00

(0.00%)

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Tesla

$294.60

3.42 (1.17%)

NSANY

Nissan

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FSFG

First Savings Financial Group

$51.33

0.22 (0.43%)

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MSFT

Microsoft

$110.97

1.5 (1.37%)

17:31
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Periodicals
Employees demand Microsoft cancel $480M U.S. Army contract, Reuters says »

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ENT

Global Eagle

$2.66

(0.00%)

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17:15
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NOC

Northrop Grumman

$288.84

2.54 (0.89%)

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LYB

LyondellBasell

$89.14

0.63 (0.71%)

17:07
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Syndicate
Breaking Syndicate news story on LyondellBasell »

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TCCO

Technical Comm Corp

$2.76

0.17 (6.56%)

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INFU

InfuSystem

$4.15

0.04 (0.97%)

17:01
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KALU

Kaiser Aluminum

$108.22

-1.9 (-1.73%)

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ALDR

Alder Biopharmaceuticals

$14.35

0.19 (1.34%)

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  • 25

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RF

Regions Financial

$16.24

-0.01 (-0.06%)

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HL

Hecla Mining

$2.59

-0.145 (-5.31%)

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BMY

Bristol-Myers

$50.99

0.84 (1.68%)

, CELG

Celgene

$89.15

0.54 (0.61%)

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BMY

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$50.99

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CELG

Celgene

$89.15

0.54 (0.61%)

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TEN

Tenneco

$36.29

0.76 (2.14%)

16:48
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Earnings
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TEN

Tenneco

$36.29

0.76 (2.14%)

16:46
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Earnings
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XRX

Xerox

$31.50

0.16 (0.51%)

16:44
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Conference/Events
Xerox management to meet with Loop Capital »

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  • 28

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TWTR

Twitter

$31.70

0.94 (3.06%)

16:38
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Hot Stocks
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  • 25

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ALLY

Ally Financial

$26.95

-0.07 (-0.26%)

16:34
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Hot Stocks
Ally Financial CEO sells over 97,000 common shares »

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