FBR Capital Believes Liberty Media Corporation Series A Liberty SiriusXM Common Stock (NASDAQ: LSXMA) Won’t Stop Here

By Ryan Adsit

In a report released today, Barton Crockett from FBR Capital reiterated a Buy rating on Liberty Media Corporation Series A Liberty SiriusXM Common Stock (NASDAQ: LSXMA), with a price target of $53. The company’s shares opened today at $42.03, close to its 52-week high of $42.17.

Crockett commented:

“We update our Liberty Sirius model after the recent 1Q17 earnings. Our price target, which is based on an SOTP with Sirius at our $5.70 price target, is unchanged at $53. By our math, with Sirius at its current price, Liberty Sirius is trading at a 16% discount to its SOTP . We see 30% upside to our price target. The key for this equity is Liberty’s movement to compress the discount by either buying back Liberty Sirius stock or executing a combination with Sirius.”

According to TipRanks.com, Crockett is a 5-star analyst with an average return of 7.5% and a 61.6% success rate. Crockett covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, Regal Entertainment, and National Cinemedia.

Currently, the analyst consensus on Liberty Media Corporation Series A Liberty SiriusXM Common Stock is Moderate Buy and the average price target is $52, representing a 23.7% upside.

In a report issued on May 23, Pivotal Research also maintained a Buy rating on the stock with a $51 price target.

The company has a one year high of $42.17 and a one year low of $29.26. Currently, Liberty Media Corporation Series A Liberty SiriusXM Common Stock has an average volume of 520.3K.

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Liberty Media Corp. operates and owns interests in a broad range of media, communications and entertainment businesses. Those businesses are attributed to three tracking stock groups: the Liberty SiriusXM Group, the Braves Group and the Formula One Group. Its subsidiaries provide equipment and technology that deliver location-based services to wireless users. Liberty Media was founded on January 11, 2013 and is headquartered in Englewood, CO.