Sirius XM price target lowered to $20 from $21 at BofA

BofA analyst Jessica Reif Ehrlich lowered the firm’s price target on Sirius XM (SIRI) to $20 from $21 and keeps an Underperform rating on the shares. Sirius reported better than forecast Q2 results, including better than projected revenue, EBITDA and free cash flow, but did not raise its revenue, EBITDA or free cash guidance for 2025 despite the stronger than forecast results, the analyst tells investors. Sirius faces numerous challenges, particularly related to streaming-only subscribers, and is struggling to gain advertising traction, the analyst added in a post-earnings note.