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SIRI

SiriusXM

$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

SiriusXM

$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 SiriusXM
$6.65

-0.3 (-4.32%)

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.
06/26/18
LEHM
06/26/18
DOWNGRADE
LEHM
Underweight
SiriusXM downgraded to Underweight from Equal Weight at Barclays
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
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.
LYV Live Nation
$47.02

-0.759 (-1.59%)

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

TODAY'S FREE FLY STORIES

ISRG

Intuitive Surgical

$521.30

-6.37 (-1.21%)

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TWTR

Twitter

$43.43

0.09 (0.21%)

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BA

Boeing

$355.49

-4.74 (-1.32%)

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STT

State Street

$92.84

-2.505 (-2.63%)

17:03
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State Street raises quarterly dividend 12% to 47c from 42c per share »

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IQ

iQIYI

$32.60

-3.36 (-9.34%)

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BTU

Peabody Energy

$44.10

-0.6 (-1.34%)

17:01
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Peabody Energy raises quarterly dividend 10% to 12.5c per share »

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ISRG

Intuitive Surgical

$521.30

-6.37 (-1.21%)

16:59
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Intuitive Surgical raises FY18 procedure growth view to 14.5%-16.5% from 12%-15% »

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WKHS

Workhorse Group

$1.49

(0.00%)

16:58
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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$279.95

-1.09 (-0.39%)

16:58
07/19/18
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Trump to invite Putin to White House for fall visit »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$279.95

-1.09 (-0.39%)

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DFS

Discover

$71.52

-0.57 (-0.79%)

16:56
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DFS

Discover

$71.52

-0.57 (-0.79%)

16:55
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16:55
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Breaking Hot Stocks news story on Discover »

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16:55
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Conference/Events
Stephens business services analyst to hold a dinner meeting »

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WAL

Western Alliance

$58.12

-0.35 (-0.60%)

16:52
07/19/18
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16:52
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16:52
Earnings
Western Alliance reports Q2 EPS 99c, consensus 98c »

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JAZZ

Jazz Pharmaceuticals

$177.06

1.12 (0.64%)

16:47
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JCO publishes pivotal Phase 3 data for Jazz Pharmaceuticals' Vyxeos »

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  • 27

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ISRG

Intuitive Surgical

$521.30

-6.37 (-1.21%)

16:47
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Intuitive Surgical says U.S. showed particular strength »

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NAVB

Navidea

$0.21

-0.0011 (-0.51%)

16:45
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Conference/Events
Navidea to host business news update conference call »

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  • 19

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NGVT

Ingevity

$90.05

0.07 (0.08%)

16:42
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PTCT

PTC Therapeutics

$36.61

1.59 (4.54%)

16:40
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AEHR

Aehr Test Systems

$2.81

0.13 (4.85%)

16:38
07/19/18
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Earnings
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BANF

BancFirst

$62.05

0.2 (0.32%)

16:35
07/19/18
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16:35
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16:35
Earnings
BancFirst reports Q2 EPS 91c, consensus 85c »

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ENFC

Entegra Financial

$30.15

0.05 (0.17%)

16:34
07/19/18
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16:34
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Earnings
Entegra Financial reports Q2 core EPS 53c, consensus 56c »

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  • 20

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GBCI

Glacier Bancorp

$40.38

0.12 (0.30%)

16:33
07/19/18
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Earnings
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  • 20

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STXB

Spirit of Texas Bancshares

$20.45

0.12 (0.59%)

16:33
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  • 25

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DATA

Tableau

$110.44

-0.76 (-0.68%)

16:32
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Tableau names Damon Fletcher as CFO »

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