Citi raised the firm’s price target on Liberty SiriusXM to $46 from $39 and keeps a Buy rating on the shares. The firm said in a research note on Friday that it believes the upcoming share reclassification will help narrow its NAV discount, as evident by Citi’s recent positive catalyst watch. Further, Citi thinks its new, simplified structure will reduce complexity and expects Liberty Live to trade at a NAV discount below prevailing levels.
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