Shares of Liberty SiriusXM LSXMA, +0.76% are up 0.4% in Tuesday morning trading after B. Riley analyst Barton Crockett raised his price target on the stock to $75 from $63 and added the shares to his firm’s "alpha generator list." He highlighted that the stock is trading at a nearly 40% discount to its stake in SiriusXM Holdings Inc. LSXMA, +0.76% a discount he said could grow to 60% if Sirius’ equity increases 13% and the stock hits B. Riley’s $8 price target. "Liberty Sirius, we believe, is the value play in streaming media," wrote Crockett. "Liberty, arguably has no bigger near-term opportunity on its potential agenda than fixing Liberty Sirius, a move that we believe could better position the Liberty music keiretsu – Liberty, Sirius, Pandora P, -1.03% and Live Nation P, -1.03% – to compete against strong rivals in the surging streaming audio sector." Liberty Sirius shares are up 5.5% over the past 12 months, while Sirius’s stock has risen 24% and the S&P 500 SPX, -0.10% has gained 17%.
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