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SIRI

Sirius XM

$6.25

-0.075 (-1.19%)

, LSXMA

Liberty SiriusXM

$41.76

-0.15 (-0.36%)

08:23
10/09/19
10/09
08:23
10/09/19
08:23

Benchmark starts Sirius XM at Hold, prefers Liberty SiriusXM as way to play

As previously reported, Benchmark analyst Matthew Harrigan initiated Sirius XM (SIRI) with a Hold rating. Sirius XM's core U.S. satellite radio business includes over 34M customers and the recent addition of Pandora lets the company reach more than 100M people with its audio products, said Harrigan, who sees it most important growth avenue being expansion into smart speakers and smart phones with improved apps and additional content. He believes the stock is fairly valued and views Liberty Sirius XM (LSXMA) shares as "a de facto pure play" on Sirius XM that trade at an "excessive" 29% discount. Harrigan initiated coverage of Liberty SiriusXM with a Buy rating and $60 price target this morning.

SIRI

Sirius XM

$6.25

-0.075 (-1.19%)

LSXMA

Liberty SiriusXM

$41.76

-0.15 (-0.36%)

  • 31

    Oct

SIRI Sirius XM
$6.25

-0.075 (-1.19%)

06/17/19
JPMS
06/17/19
NO CHANGE
Target $7
JPMS
Overweight
Sirius XM fundamentals should improve in Q2, says JPMorgan
JPMorgan analyst Sebastiano Petti says he remains bullish on Sirius XM Radio and looks for the company's fundamentals to improve in Q2 despite a difficult self-pay churn comp. Further, Sirius XM's trends should accelerate through year-end as the legacy business revenue and EBITDA "remains robust" and the drag from Pandora eases, Petti tells investors in a research note. Sirius offers one of the most compelling valuations in our coverage universe, says the analyst, who keeps an Overweight rating on the shares with a $7 price target.
09/23/19
WELS
09/23/19
INITIATION
Target $8
WELS
Outperform
Sirius XM initiated with an Outperform at Wells Fargo
Wells Fargo analyst Steven Cahall initiated Sirius XM with an Outperform rating and $8 price target, citing its "remarkably low" churn, relatively fixed cost base and average revenue per user that he said "seems to have inflation-style growth in perpetuity."
10/09/19
BNCH
10/09/19
INITIATION
BNCH
Hold
Sirius XM initiated with a Hold rating at Benchmark
Benchmark analyst Matthew Harrigan initiated Sirius XM with a Hold rating.
10/09/19
BNCH
10/09/19
INITIATION
Target $60
BNCH
Buy
Liberty SiriusXM initiated with a Buy rating at Benchmark
Benchmark analyst Matthew Harrigan initiated coverage of Liberty SiriusXM with a Buy rating and $60 price target. He notes that Liberty Sirius XM Group is a tracking stock that owns 70% of Sirius XM Holdings (SIRI) equity with effectively no other assets. Liberty SiriusXM shares trade at a 29% net asset value discount to Sirius XM shares, which Harrigan believes to be "excessive," he tells investors. LSXMA is nested within the overall Liberty Media Corporation corporate and tax entity alongside Formula One Group (FWONA) and Liberty Braves Group (BATRA), on which he does not have ratings, the analyst noted.
LSXMA Liberty SiriusXM
$41.76

-0.15 (-0.36%)

01/07/19
FBNS
01/07/19
NO CHANGE
FBNS
Outperform
Liberty SiriusXM named top pick for 2019 at FBN Securities
FBN Securities analyst Robert Routh says Liberty SiriusXM (LSXMA, LSXMK) is his firm's top pick for 2019. The recent decline in Sirius XM's (SIRI) share price and the resulting impact on Liberty SiriusXM "should easily reverse this year," Routh tells investors in a research note. Further, the analyst believes the "unreasonable" 49.91% discount currently ascribed to Liberty SiriusXM relative to its intrinsic value should close "in the not too distant future." In addition, he thinks both Liberty SiriusXM and SiriusXM's share repurchase activity will continue and possibly accelerate in 2019. Routh also views the latter's 2019 guidance as conservative. The analyst has an Outperform rating on Liberty SiriusXM.

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HSTM

HealthStream

$26.33

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Celanese

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-0.3 (-0.25%)

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OSB

Norbord

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HSTM

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$26.33

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Conference/Events
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Earnings
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