Sirius Stock Could Rock Into the New Year

J.P. Morgan Securities raised SIRI to "overweight" from "underweight"

Digital Content Manager
Jan 2, 2019 at 9:49 AM
facebook X logo linkedin


The shares of Sirius XM Holdings Inc (NASDAQ: SIRI) are up 0.9% at $5.76, on an upgrade from J.P. Morgan Securities. The brokerage firm raised its rating to "overweight" from "underweight," and hiked its price target to $7 from $6 -- a near 23% premium from current levels -- saying SIRI's recent pullback is a buying opportunity. 

Despite ending 2018 with a 6.5% gain, it's been a rough few months for SIRI stock. The stock suffered a bear gap in September on plans to buy sector peer Pandora (P) for about $3.5 billion, and subsequently found a stiff ceiling in the $6.40 area.

Analysts are currently split on SIRI, with five "strong buys," compared to three "holds" and two "strong sells." Meanwhile, the consensus 12-month price target sits at $6.93 -- in line with J.P. Morgan Securities' new target. 

Elsewhere, short sellers have been circling Sirius XM, with short interest increasing by 5.9% in the past two reporting periods. The 214.5 million shares sold short represents a whopping 18.9% of the stock's total available float.

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*