SiriusXM Gets a Big Wall Street Endorsement
Deutsche Bank analyst Bryan Kraft boosted his rating to "buy" The post SiriusXM Gets a Big Wall Street Endorsement appeared first on TheWrap .
Amid a typically quiet summer on Wall Street, one analyst made a significant call on a lesser-known media company, SiriusXM. Deutsche Bank analyst Bryan Kraft upgraded the company's rating to "buy" and raised his price target to $45 per share, citing SiriusXM's potential in digital audio advertising. Kraft believes the company is being undervalued due to a gap between Wall Street expectations and his own projections for SiriusXM's performance in 2027 and 2028.
SiriusXM recently announced Howard Stern's return with a video streaming show on HBO Max, further bolstering its appeal. The company also secured a deal with YouTube, which Kraft highlighted as a major growth opportunity, potentially generating $2 billion in annual incremental revenue by 2029.
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