NEW YORK (TheStreet) -- Sirius XM (SIRI) has received another vote of confidence this week, this time from Evercore which reinstated an "overweight" rating on the satellite radio company in the aftermath of the failed buyout attempt from Liberty Media (LMCA).
Merill Lynch reinstated its "buy" rating for the company on Friday with a price target of $5. Macquaire also recently upgraded Sirius' price target to $4. Sirius opened the day trading at $3.49 and has ranged between $3.39 and $3.49.
The proposed Liberty Media deal would have valued Sirius XM at $23 billion at $3.68 a share. As of the end of 2013 Sirius -- the world's largest pay-radio service -- boasted 25.6 million subscribers. Steady growth in the number of its subscribers has allowed the company to post increased earnings for each of the last four years.
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TheStreet Ratings team rates SIRIUS XM HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SIRIUS XM HOLDINGS INC (SIRI) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."