SiriusXM Faces Headwinds From Pricing Shift, Ad Weakness, Says JPMorgan
1. JPMorgan maintains Underweight rating on SIRI with a $20 price target. 2. SIRI faces growth challenges amid demographic shifts and new pricing strategy. 3. First-quarter revenue forecast lowered to $2.05 billion with rising EBITDA to $580 million. 4. Higher capital expenditures and leveraged acquisition will delay share buybacks until 2027. 5. Analyst highlights the importance of monitoring advertising trends and ARPU developments.