UPDATE: Wunderlich Securities Maintains Hold Rating on SIRIUS XM Citing Key Transition In Market
In a report published Tuesday, Wunderlich Securities maintained its Hold rating on SIRIUS XM (NASDAQ: SIRI) and $3 price target.
Wunderlich Securities reported that, “Yesterday, at the Mobile World Congress, GM indicated that 2014 vehicles across all lines will be equipped with 4G mobile broadband technology. There is particular intent to favor telematics application to complement Onstar, with telematics also important to Liberty Media's (LMCA-$106.42, Hold) plans for SIRI. This could leapfrog GM ahead of Ford (F-NR) Sync and the balky but now improved MyFord Touch. The 4G system includes backseat video as well as social media such as Facebook (FB-NR) and Twitter."
SIRIUS XM shares closed at $3.00 on Monday.
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