Goldman Sachs Upgrades Sirius XM Radio (SIRI) to Neutral
(Updated - May 1, 2024 4:54 AM EDT)
Goldman Sachs analyst Brett Feldman upgraded Sirius XM Radio (NASDAQ: SIRI) from Sell to Neutral with a price target of $3.25 (from $3.50).
The analyst comments "We upgrade shares of SiriusXM to Neutral (from Sell) following recent underperformance (-46% YTD vs S&P 500 of +6%). While we continue to hold many of the same fundamental concerns that we had when we first went Sell-rated (e.g., increasing competition for premium audio services resulting in slower subscriber & ARPU growth), this view has become more widely held by the market and valuation has recently reset to a level that we believe reflects more balanced risk/reward. Our updated price target of $3.25 ($3.50 prior) implies 14% total potential return."
For an analyst ratings summary and ratings history on Sirius XM Radio click here. For more ratings news on Sirius XM Radio click here.
Shares of Sirius XM Radio closed at $2.94 yesterday.