Schaeffer's Top Stock Picks for '25

Analyst Expects Sirius XM Stock to Break Out

SIRI shares have been consolidating atop their 200-day moving average

Jan 19, 2018 at 9:52 AM
facebook X logo linkedin


Sirius XM Holdings Inc. (NASDAQ:SIRI) and Nvidia Corporation (NASDAQ:NVDA) stocks have both been winners in recent years, and are again gaining today following bullish brokerage attention. Below we'll take a closer look at shares of SIRI and NVDA after the analyst notes.

Deutsche Bullish On SIRI Stock

Shares of Sirius XM are trading up 1.8% at $5.57, after Deutsche Bank upgraded the stock to "buy" from "hold" and lifted its price target to $6.50 from $5.25. SIRI hasn't traded above $6 since 2006, but it's been trending higher in recent years, including a 19% rally over the past 12 months. More recently, the security's been consolidating above its 200-day moving average.

Short interest is sill elevated, though it's been edging lower in recent reporting periods. As of now, more than 16% of the float is dedicated to short interest -- which equates to more than two weeks' worth of buying power, going by average daily trading volumes. A continuation of this short-covering trend could help keep Sirius XM moving higher on the charts.

Plus, it's worth noting this may not be the last bull note we see for SIRI, since the majority of analysts in coverage still have "hold" or "strong sell" ratings in place. The average 12-month price target of $5.85 doesn't price in much upside, either.

BAML Sees More Upside For NVDA Stock

Meanwhile, shares of Nvidia are trading up 1.8% at a new record high of $228.50, thanks to a price-target hike at BofA-Merrill Lynch to $275 from $251 -- representing upside of over 20% from current levels. The stock had already more than doubled in the past year. 

Options data suggests traders have been betting on more upside. This is according to the 10-day call/put volume ratio of 1.63 from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the top quartile of the annual range. Said simply, call buying has been unusually popular in recent weeks.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?