Morgan Stanley raised the firm’s price target on Sirius XM (SIRI) to $22 from $21 and keeps an Underweight rating on the shares. A stable ad and auto outlook reduces near-term cyclical risk, but the firm sees more compelling risk/reward elsewhere in Telco & Cable, the analyst tells investors in a research note. The path to de-lever remains largely unchanged and secular pressures persist, Morgan Stanley adds.
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 SIRI:
- Sell Rating for Sirius XM Holdings Amid Modest Cash Flow Improvements and Persistent Challenges
- Long-Term Growth Potential for Sirius XM Holdings Amidst Short-Term Challenges
- Here’s Why Warren Buffett Continues Buying Sirius XM Stock (SIRI)
- Sirius XM price target raised to $19 from $16 at Wells Fargo
- Cautious Outlook on Sirius XM Holdings Amid Advertising Pressures and Delayed Spectrum Value