Pivotal Research raised the firm’s price target on Sirius XM (SIRI) to $5.60 from $4.80 and keeps a Hold rating on the shares after the announcement of the Liberty Media (LSXMA) deal. The firm reminds investors that the materially better way to play Sirius is vai parent Liberty, which proforma for deal close controls an 81% stake in Sirius XM, and the firm believes it is a near certainty this deal will close during Q3.
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