Sirius XM downgraded to Hold from Buy at Wunderlich Wunderlich downgraded Sirius XM saying its skeptical that Libery Media will materially raise is bid for the company. The firm lowered its price target for shares to $3.80 from $4.20.
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.