JPMorgan upgraded Sirius XM Holdings to Neutral from Underweight. The firm increased its price target for the stock to $24.00 from $20.00. Analysts cited better-than-expected fourth-quarter results and improving subscriber trends as primary drivers for the move.
JPMorgan analysts suggest the company’s initial 2026 subscriber and financial guidance may be conservative. The firm highlighted lower churn across all categories. Consequently, JPMorgan reduced its estimate for 2026 self-pay net losses.
The upgrade follows mixed sentiment from other firms. Seaport Global Securities recently downgraded Sirius XM to Neutral. Rosenblatt Securities raised its price target to $24.00.