Guggenheim raises Sirius XM stock price target on YouTube ad deal By Investing.com
Guggenheim has increased its price target for Sirius XM Radio (NASDAQ:SIRI) shares to $34 from $29, maintaining a Buy rating, following news of Sirius XM becoming YouTube's exclusive audio advertising representative in the U.S. The firm expects stabilizing core financials, including anticipated advertising growth, stable subscription revenue, and cost discipline, to support the shares. They also project growing free cash flow as satellite capital expenditure declines and anticipate management will reiterate or modestly raise guidance in the upcoming earnings report.
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