Seaport Global Securities Upgrades The Liberty SiriusXM Group (LSXMK) to Buy

Seaport Global Securities analyst David Joyce upgraded The Liberty SiriusXM Group (NASDAQ: LSXMK) from Neutral to Buy with a price target of $32.00.

The analyst comments "We are upgrading our recommendation on LSXMA & LSXMK shares to Buy from Neutral and placing a $32 PT on each of the share classes. We think the story is cleaner now, post-reclassification, which separated out the 30% ownership of Live Nation Entertainment (LYV, Buy, PT $104) into its own tracking stock. While it may take 12-24 months for a potential value-creating combination, we think the underlying fundamentals at Sirius XM (SIRI, Neutral) are improving and downside is limited for LSXMA/K."

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

Shares of The Liberty SiriusXM Group closed at $23.80 yesterday.

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