Why Sirius XM Holdings Rallied Today
A Wall Street analyst likes the satellite radio company's advertising opportunity.
Overview
Shares of Sirius XM Holdings (NASDAQ: SIRI) were rallying on Wednesday, up as much as 7.9% before retreating to a 7.5% gain on the day.
Sirius received a bullish sell-side analyst note on the company's digital advertising opportunity, and the stock responded accordingly.
Details
Today, Deutsche Bank analyst Bryan Kraft upgraded Sirius shares from "Hold" to "Buy" and raised his price target to $45, up from $31. Kraft believes that investors aren't appreciating Sirius' digital advertising opportunity,
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.