Liberty SiriusXM price target lowered to $58 from $67 at Deutsche Bank

Deutsche Bank analyst Bryan Kraft lowered the firm’s price target on Liberty SiriusXM to $58 from $67 and keeps a Buy rating on the shares. The lowered price target reflects SiriusXM’s recent Q4 earnings report and guidance, the analyst tells investors. The firm notes the company’s net-asset-value, NAV, discount is estimated to be 35%. In the likelihood the NAV discount will be eliminated over the next 12 months, there is upside from appreciation in the underlying stock price for the company, the firm says.