On September 3, Sirius XM rose 7.78% in regular trading, trading at $29.769 USD/share, with turnover of $128 million. The rally was driven by Deutsche Bank upgrading its rating on the stock from hold to buy while raising the price target significantly from $31 to $45.

The new $45 target implies over 50% upside from current levels, directly boosting market sentiment. Intraday volume reached approximately 4 million shares, nearing the daily average of 4.7 million. The upgrade comes after the company reported Q2 results on July 30, where revenue of $2.16 billion beat estimates of $2.14 billion and full-year revenue guidance was raised to $8.53 billion from $8.5 billion, though EPS of $0.70 missed the $0.78 consensus. Other analysts have also turned more constructive, with Barrington previously raising its price target to $36 while maintaining an outperform rating.

Sirius XM is North America's leading audio entertainment company, operating SiriusXM satellite and streaming subscription services alongside the Pandora music streaming platform, with additional revenue from advertising, podcasts, and connected vehicle services.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)