Wells Fargo Upgrades SiriusXM to Equal Weight and Raises Price Target
Wells Fargo has upgraded its rating for Sirius XM Holdings (SIRI) to Equal Weight from Underweight, reflecting a more favorable outlook on the company. The firm also raised its price target for SIRI's stock to $30 from $18, citing an increased valuation of the company’s spectrum assets as a key factor in this reassessment. The upgraded rating and higher price target suggest that analysts at Wells Fargo believe SiriusXM is better positioned than previously thought. The new PT implies modest upside potential for investors compared to recent stock performance.
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