Cameron Mansson-Perrone, an analyst from Morgan Stanley, maintained the Sell rating on Sirius XM Holdings. The associated price target is $22.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Cameron Mansson-Perrone has given his Sell rating due to a combination of factors influencing Sirius XM Holdings. Despite the company’s raised free cash flow (FCF) guidance to $1.2 billion, which aligns with expectations, there remains a cautious stance on the stock. This outlook is consistent with the analyst’s estimates, which have accounted for the impact of the OBBB Act, yet the overall sentiment remains wary over the next twelve months.
Cameron also highlights the advertising outlook and ongoing negotiations with Howard Stern as key considerations. While there is a cautiously optimistic tone regarding advertising, with recent improvements noted, it only comprises a small portion of total revenue. Additionally, the discussions to extend Howard Stern’s contract are still in progress, with the company expressing confidence in reaching a favorable agreement. Despite these developments, the analyst sees more attractive investment opportunities within the broader Telecom & Cable Services sector.
According to TipRanks, Mansson-Perrone is a 4-star analyst with an average return of 18.8% and a 70.59% success rate. Mansson-Perrone covers the Communication Services sector, focusing on stocks such as Sirius XM Holdings, Live Nation Entertainment, and Vivid Seats.
In another report released on September 2, J.P. Morgan also maintained a Sell rating on the stock with a $19.00 price target.