Evercore ISI downgraded Liberty SiriusXM (LSXMA) to In Line from Outperform with a price target of $27, down from $36. The analyst had viewed Liberty SiriusXM as a more representative value of Sirius XM (SIRI) than Sirius itself, given Sirius’s “modest” public float. However, the relative value spread has closed between the two stocks, the analyst tells investors in a research note. The firm believes the shares could remain volatile into the close of the combination.
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.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LSXMA:
- Liberty SiriusXM price target lowered to $31.50 from $34 at Deutsche Bank
- Liberty SiriusXM reports Q1 revenue $2.16B, consensus $2.14B
- LSXMA Upcoming Earnings Report: What to Expect?
- Liberty SiriusXM upgraded to Buy from Neutral at Seaport Research
- Improved Analyst Rating Proves Little Help to Sirius XM (NASDAQ:SIRI)