Sirius XM upgraded to Buy from Neutral at Seaport Research

Seaport Research analyst David Joyce upgraded Sirius XM (SIRI) to Buy from Neutral with a $27 price target The firm views the company as a “recession-resistant port in the tariff storm.” “Sirius XM’s recurring revenue is all in the U.S. and it has a “sticky-subscriber business model,” the analyst tells investors in a research note. Seaport points out that only 20% of the company’s revenue is exposed to advertising. This should turn into a long-term growth opportunity given investments in Sirius XM’s bi-directional satellite radio and podcast initiative, the firm adds.