SIRI - Is Sirius XM Stock a Buy in the Coronavirus Crisis?
It's not a surprise to see Sirius XM Holdings (NASDAQ: SIRI) falling alongside many consumer-hungry stocks in this climate. However, with the shares falling to a three-year low last week, one Wall Street pro feels that the sell-off is overdone.
Jason Bazinet at Citi is upgrading shares of the satellite radio provider on Tuesday, boosting his rating on Sirius XM from neutral to buy. He is lowering his price target on the stock from $7 to $5.90, but that's not a bad thing given how sharply the shares have fallen since his last update. His new price goal calls for a 23% increase from current levels.
Image source: Sirius XM Holdings.