Guggenheim raised its Sirius XM (SIRI) price target to $34 from $29. The firm maintained its Buy rating ahead of the company's first-quarter earnings report.
Sirius XM recently became the exclusive U.S. audio advertising representative for YouTube. Analysts expect this partnership to boost financial estimates for the second half of 2026 and the full year.
The deal supports advertising growth, stable subscription revenue, and strict cost discipline. Guggenheim projects growing free cash flow as satellite capital expenditures decrease through 2028.
The firm also anticipates an increase in share buybacks. This update follows a recent upgrade to Buy from Rosenblatt Securities.