New structure 'good news' for Liberty shares, says Deutsche Bank Deutsche Bank believes Liberty Media's (LMCA) shift to a dual tracking stock structure while ending its pursuit of buying Sirius XM (SIRI) is "good news" for Liberty Media shares. Deutsche notes that should Liberty revert to its prior 5% discount to asset value, the stock would be at $143. The firm has a Buy rating on the name with a $164 price target.
Sirius XM buyback announcement positive but expected, says FBR Capital FBR Capital said Sirius XM's announcement last night of a $2B expansion of its buyback authorization is a positive, but is also consistent with the firm's expectations. FBR adds that the timing of the announcement suggests the company have been opportunistic with its repurchases during the recent pullback in the market. The firm keeps an Outperform rating on Sirius shares.