Seaport Research downgraded Liberty SiriusXM (LSXMA, LSXMK) to Neutral from Buy without a price target. Sirius XM (SIRI) could see a better overall year in subscriber trends in 2024 versus 2023, but with the similar cadence of large losses coming in Q1, then improving sequentially, the analyst tells investors in a research note. As the combination is nearing, the net asset value gap has been cut in half over the past month, Seaport says. The firm cites the narrowed discount for the downgrade of Liberty SiriusXM.
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