Pivotal Research analyst Jeffrey Wlodarczak lowered the firm’s price target on Sirius XM to $4.75 from $5 and keeps a Hold rating on the shares. The analyst says the proposed transaction is “clearly positive” to Liberty Sirius XM shareholders. The firm still believes Sirius XM shares are reasonably valued around current levels into what it believes is increasingly likely possibility of a 2024 recession.
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