Wells Fargo analyst Steven Cahall lowered the firm’s price target on Sirius XM (SIRI) to $16 from $22 and keeps an Underweight rating on the shares. Wells thinks Siriux XM subscribers are at risk for worsening trends due to in-car trends, the analyst tells investors in a research note. The auto market has increased challenges both from sales volumes and infotainment competition, and Wells believes subscriber challenges will be enduring vs. annual.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SIRI:
- Sirius XM price target lowered to $30 from $40 at Barrington
- Albertsons terminates Kroger deal, Macy’s reports Q3 beat: Morning Buzz
- Sirius XM price target lowered to $32 from $43 at Benchmark
- Sirius XM downgraded to Neutral from Buy at Seaport Research
- Dissapointing SiriusXM (SIRI) Revenue Guidance Shatters Investor Confidence