Liberty Sirius XM price target raised to $41 from $34 at Pivotal Research

Pivotal Research raised the firm’s price target on Liberty Sirius XM (LSXMK) to $41 from $34 and keeps a Buy rating on the shares. The analyst says the proposed Sirius XM (SIRI) transaction is “clearly positive” to Liberty Sirius XM shareholders. The deal should collapse the 30%-35% Liberty Sirius discount to net asset asset which is almost entirely made up of Sirius XM shares, reduces the complexity of the dual way to play Sirius XM, and opens up Sirius XM for a dramatic increase in participation in stock indexes, the analyst tells investors in a research note.