Citigroup Maintains Sell on Sirius XM Holdings, Adjusts Price Target To $21 (reverse stock split 1:10)
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Jason Bazinet maintains a Sell rating on Sirius XM Holdings and adjusts the price target to $21 from $2.8, reflecting a reverse stock split of 1:10.
September 26, 2024 | 6:19 pm
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Citigroup analyst Jason Bazinet maintains a Sell rating on Sirius XM Holdings and adjusts the price target to $21 from $2.8, reflecting a reverse stock split of 1:10.
The maintenance of a Sell rating by Citigroup suggests a negative outlook on Sirius XM Holdings. The adjustment of the price target to $21 from $2.8 is due to a reverse stock split of 1:10, which does not change the underlying valuation but may affect investor perception. The negative sentiment from the Sell rating is likely to impact the stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100