.jpg "Sirius XM Holdings Inc (NASDAQ: SIRI)")
Barrington analyst James Goss maintained a Buy rating on Sirius XM Holdings Inc (NASDAQ: SIRI) today and set a price target of $8. The company’s shares opened today at $6.69.
Goss wrote:
“We had moved to OUTPERFORM on 1 due to the significant potential we expected in the blend of subscription products combined with monetization of the ad-based service. The all-stock acquisition price terms initially indicated a $10.14 per share value for P based on the trailing 30-day average for SIRI, close to our price target of $11 and 50% above our upgrade price. However, the announced price was also only 13.8% above the 30-day VWAP, indicating a belief that a significant share of the price arbitrage between the equities had occurred in recent trading. We are maintaining our top investment rating on SIRI, though news of the deal has pressured its shares lower. Since P should trade in relationship with SIRI, we maintain our investment rating on P as well.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 15.4% and a 73.7% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, iPic Entertainment Inc, and Clear Channel Outdoor.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sirius XM Holdings Inc with a $7.50 average price target, which is a 12.1% upside from current levels. In a report issued on September 19, Macquarie also reiterated a Buy rating on the stock with a $7.75 price target.
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Sirius XM Holdings Inc’s market cap is currently $31.31B and has a P/E ratio of 41.06. The company has a Price to Book ratio of -22.84.
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Sirius XM Holdings, Inc. is a radio company. The company offers music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services. Its brand channels include SiriusXM Traffic, SiriusXM Travel Link, NavTraffic, NavWeather, SiriusXM Aviation, Sirius Marine Weather, XMWX Aviation, XMWX Marine, and SiriusXM Marine.
