Deutsche Bank Downgrades Liberty SiriusXM (LSXMA) to Hold
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
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.
Shares of Liberty SiriusXM closed at $36.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Downgrades Kroger (KR) to Hold
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
- Oppenheimer Cuts Price Target on Workday (WDAY) Following 3Q; Reiterates Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!