Wells Fargo added Sirius XM (SIRI) to the firm’s Q1 2025 “Tactical Ideas List.” The firm thinks the first half of 2025 will be challenging for Sirius XM’s outlook as it refocuses on the in-car strategy. Multiple factors could weigh on self-pay net adds. Longer-term, Wells believes sub pressures could derate the EV/EBITDA multiple. The firm has an Underweight rating on the shares with a $16 price target
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