Citigroup Maintains Sell Rating for Sirius XM Holdings: Here's What You Need To Know

Citigroup has decided to maintain its Sell rating of Sirius XM Holdings SIRI and lower its price target from $4.50 to $3.60.

Shares of Sirius XM Holdings are trading up 0.13% over the last 24 hours, at $3.96 per share.

A move to $3.60 would account for a 9.21% decline from the current share price.

About Sirius XM Holdings

SiriusXM Holdings is now composed of two businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee. The firm's radios come preinstalled on a wide range of light vehicles in the U.S. and Canada. The firm acquired Pandora Media in February 2019 via an all-stock transaction. Pandora is a streaming music platform that offers an ad-supported radio option and a paid on-demand service. Liberty Media owns 80% of SiriusXM, traded through its Liberty SiriusXM Group tracking stock.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.