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Credit Suisse upgrades Sirius (NASDAQ: SIRI) to Outperform, shares rise

  • Analyst Brian Russo confident management will beat 2019 guidance
  • Upgrades from Neutral, offers $7 price target
  • Shares down 15% since last September

Sirius (NASDAQ: SIRI) shares climbed 1% in premarket after Credit Suisse set a higher Outperform stock rating on the prospect of 2019 results coming in ahead of guidance.

Analyst Brian Susso said the radio broadcasting company has a “long track record” to delivering earnings and revenue beats. “We believe it more likely than not that management will beat its guidance, and therefore see upside to consensus for the remainder of the year,” Russo noted.