Sirius XM price target lowered to $45 from $46 at Rosenblatt

Rosenblatt lowered the firm’s price target on Sirius XM (SIRI) to $45 from $46 and keeps a Buy rating on the shares. The direct-to-device, or D2D, space “keeps heating up constructively for the SiriusXM D2D spectrum value thesis,” even before “the main event,” namely the SpaceX IPO reported to be coming in June, the analyst tells investors. The firm updated SiriusXM estimates for recent filings and reports and updated its sum-of-the-parts analysis.