Will Sirius XM Put Pandora Out of Its Misery?
Pandora (NYSE: P) and Sirius XM Radio (NASDAQ: SIRI) seem to be at opposite ends in the eyes of market favor. Shares of Sirius XM hit an 11-year high this summer. Pandora, on the other hand, is hitting all-time lows on Friday after another disappointing quarterly report.
The irony here is that we're just five months removed from the moment when Sirius XM struck a deal for a minority stake in Pandora. The satellite radio giant made a push to buy all of Pandora last year, only to be rebuffed. It ultimately settled for a convertible preferred stock investment that translates into a 19% piece of Pandora's current outstanding shares or a 16% stake on an as-converted basis. It doesn't have to end there. These two companies are passing ships, but it's never too late for Sirius XM to hook on to Pandora and give it a tow in the right direction.
Image source: Pandora.
Source: Fool.com
Sirius XM Holdings Inc. Stock
Based on 6 Buy predictions and 5 Sell predictions the sentiment towards Sirius XM Holdings Inc. is rather balanced.
As a result the target price of 4 € shows a positive potential of 22.81% compared to the current price of 3.26 € for Sirius XM Holdings Inc..
