Deutsche Bank Downgrades Liberty SiriusXM (LSXMA) to Hold

November 16, 2016 6:51 AM EST
Get Alerts LSXMA Hot Sheet
Price: $34.42 -5.47%

Rating Summary:
    6 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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Deutsche Bank downgraded Liberty SiriusXM (NASDAQ: LSXMA) from Buy to Hold with a price target of $39.00 (from $37.00). Analyst Bryan Kraft sees less upside.

"SIRI shares have rallied nearly 10% since the end of October, and now trade above our $4.50 PT. We continue to believe that the LSXMA NAV discount, currently at 15%, should ultimately go to zero through an eventual combination. However, the timing is unclear and we think that Liberty is likely to share some of the upside from the NAV discount closing with the public SIRI shareholders should there be an opportunity to fully combine the ownership structure. Our LSXMA PT of $39 implies about 10% potential upside," said Kraft.

For an analyst ratings summary and ratings history on Liberty SiriusXM click here. For more ratings news on Liberty SiriusXM click here.

Shares of Liberty SiriusXM closed at $36.02 yesterday.



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