FWONA - Barclays Downgrades SiriusXM - What Investors Need To Consider
SiriusXM (SIRI) has been hit with another downgrade by Wall Street. This time, the downgrade came from analyst Kannan Venkateshwar from Barclays. The analyst downgrade is not based on poor performance of the company, but rather the thought that the equity had reached a peak after an impressive run upward here in the first half of 2018.
On a comparative basis, Venkateshwar feels that the equity trading at 21x anticipated free cash flow is richer than the multiples seen by other companies in the media sector. There is merit to that thought process, but