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LSXMA

Liberty SiriusXM

$46.97

-0.655 (-1.38%)

, SIRI

Sirius XM

$6.92

-0.055 (-0.79%)

06:43
11/18/19
11/18
06:43
11/18/19
06:43

Liberty SiriusXM initiated with an Outperform at Credit Suisse

Credit Suisse analyst Brian Russo initiated coverage of Liberty SiriusXM Holdings (LSXMA) with an Outperform rating and $55 price target. The stock is currently trading at a 27% discount to the value of its Sirius XM (SIRI) shares net of its debt, a reflection of its tracking stock nature and greater liquidity relative to Sirius, Russo tells investors in a research note. He expects the two stocks to continue to trade in tandem and his Outperform rating on Sirius XM leads to a "similarly positive" view of Liberty SiriusXM.

LSXMA

Liberty SiriusXM

$46.97

-0.655 (-1.38%)

SIRI

Sirius XM

$6.92

-0.055 (-0.79%)

  • 21

    Nov

LSXMA Liberty SiriusXM
$46.97

-0.655 (-1.38%)

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.
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.
10/09/19
BNCH
10/09/19
INITIATION
BNCH
Hold
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
$6.92

-0.055 (-0.79%)

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.

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