Sirius XM (NASDAQ:SIRI) shares rose 3.1% in premarket trading after Deutsche Bank upgraded the stock to Buy from Hold and increased its price target to $45 from $31.
The brokerage’s revised target represents its assessment of the stock’s potential value and is not an established future share price.
Before the upgrade, the supplied information showed four Buy ratings, seven Hold ratings and three Sell ratings among analysts covering Sirius XM.
Deutsche Bank Raises Price Target to $45
The upgrade follows a period in which Sirius XM shares had declined approximately 10% over the preceding month.
Deutsche Bank’s new $45 price target is above the stock’s recent trading level, although the supplied information does not provide the brokerage’s detailed assumptions supporting the revised valuation.
The change also follows other analyst revisions after Sirius XM reported its second-quarter 2026 results.
Sirius XM Reports $2.16 Billion in Second-Quarter Revenue
Sirius XM reported second-quarter revenue of $2.16 billion, while free cash flow increased by nearly 50% from the corresponding period a year earlier.
The company also reported a record-low churn rate among self-pay subscribers.
Management raised its full-year revenue guidance to approximately $8.525 billion. The forecast represents company guidance and remains subject to future business and market conditions.
Analysts Assess Potential Value of Sirius XM Spectrum
The supplied information also points to analyst interest in the potential value of Sirius XM’s spectrum assets.
Some research firms have discussed potential demand for the company’s 35 MHz of spectrum from businesses developing direct-to-device connectivity.
The potential future value and demand for these spectrum assets represent analyst assessments and have not been established as future transactions or financial outcomes.
Sirius XM Outperforms Broader Market Premarket
The increase in Sirius XM shares came as broader U.S. equity benchmarks traded lower, with the S&P 500 down 0.2% and the Nasdaq declining 0.5% in premarket trading.
Unlike the previous Aligos case where no immediate company-specific development was identified, the Deutsche Bank upgrade provides a specific same-day development accompanying the move in Sirius XM shares. However, the extent to which any individual factor caused the 3.1% increase cannot be established from the supplied information.
Sirius XM shares remained above their 52-week low of $19.77.
Sirius XM Holdings stock price
