Brandon Matthews submits:
This week, on the heels of Sirius XM (NASDAQ:SIRI) issuing $800 million in new Senior Notes to refinance debt, BGB Securities Media Analyst, Murray Arenson, has issued an updated equity report. Arenson initiated coverage of Sirius XM at BGB Securities just last week — with a BUY rating and a $1.15 price target. In his initial report, he noted a rebounding OEM sector, penetration into the pre-owned auto market, royalty pass-throughs, merger related synergies and an improving balance sheet.