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Sirius XM price target raised to $19 from $16 at Wells Fargo

Wells Fargo raised the firm’s price target on Sirius XM (SIRI) to $19 from $16 and keeps an Underweight rating on the shares. The firm makes modest tweaks to its Sirius model, including net adds stronger in Q2, but weaker in Q4 plus continued ad pressures. Wells also adds in spectrum monetization to its valuation.

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