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Fly News Breaks for November 18, 2019
Nov 18, 2019 | 06:43 EDT
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.