Sirius XM price target lowered to $28 from $30 at Barrington

Barrington analyst Patrick Sholl lowered the firm’s price target on Sirius XM (SIRI) to $28 from $30 and keeps an Outperform rating on the shares following the Q4 report. The company’s leverage remains manageable, after moving higher following the closing of the Liberty transaction, the analyst tells investors in a research note. The firm believes “strong” cash flow can support progress on leverage reduction and provide for greater return of capital.