Sirius XM price target lowered to $4.75 from $5.75 at Barrington

Barrington analyst James Goss lowered the firm’s price target on Sirius XM to $4.75 from $5.75 and keeps an Outperform rating on the shares. The company’s retention and subscriber trends reflect a challenging environment, the analyst tells investors in a research note. The firm says its previous price target appeared to be a “stretch goal” in the context of immediately higher leverage as the Liberty deal takes effect, and Sirius XM’s “stalled profitability” as the company looks to reinvigorate sub trends.