Pivotal Research analyst Jeffrey Wlodarczak lowered the firm’s price target on Sirius XM to $5.30 from $5.60 and keeps a Hold rating on the shares. The analyst tweaked 2024 estimates for the company mostly lower as the firm moved its expectation for a rate hike to 2025 and reduced expectations on cost cuts in 2024. Sirius XM remains a free cash flow growth, stock buyback story with stable to modestly growing revenue and EBITDA, the analyst tells investors in a research note.
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