JPMorgan analyst Sebastiano Petti upgraded Sirius XM (SIRI) to Neutral from Underweight with a price target of $24, up from $20. The firm cites improving subscriber trends following the company’s better than expected Q4 results for the upgrade. JPMorgan is “encouraged” by Sirius XM’s improving subscriber trends, contributions from new products and improving advertising trends and monetization. The company is making progress towards deleveraging, the firm contends.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SIRI:
- Zoom, Qualcomm, Roku, Amazon, Sirius XM Trending With Analysts
- Sirius XM: Strong Free Cash Flow, 360L Growth, and Undemanding Valuation Support Buy Rating
- Amazon downgraded, Roblox upgraded: Wall Street’s top analyst calls
- Sirius XM downgraded to Neutral from Buy at Seaport on reduced estimates
- Sirius XM downgraded to Neutral from Buy at Seaport Research