Barrington Research Maintains Sirius Outperform

Barrington Research maintained its Sirius XM Radio (NASDAQ: SIRI) Outperform rating in a research report published today. Barrington Research has a $3 price target on the company.

Barrington Research noted in the report that Sirius XM Radio's financial position has greatly improved over the past couple years.

"Over this time, the company's debt has been upgraded six notches to a current level of BB. Management noted that it would not be driven to achieve an investment grade rating, instead viewing judicious use of leverage as having benefit to its equity shareholders," Barrington Research stated.

Shares of Sirius XM Radio were trading at $2.17 at the time of posting, down 0.91% from Wednesday's market close.