SiriusXM Stock: 4 Reasons to Buy This Monopoly

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SiriusXM Stock: 4 Reasons to Buy This Monopoly
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operates the only licensed satellite radio company. In 1997, the U.S. Federal Communications Commission granted satellite radio licenses to two competing satellite radio companies, Sirius Satellite Radio and XM Satellite Radio.

On Sept. 9, 2024, Sirius XM split off from Liberty Media and executed a 1-for-10 reverse stock split. The company implemented a 3.84% dividend and announced a $1.66 billion stock buyback. Here are 4 reasons to consider buying this monopoly.To date, Sirius XM is the only FCC-licensed commercial satellite radio operator in the consumer discretionary sector.

Sirius XM’s average consensus price target is $31.25, and its highest analyst price target sits at $49.00. It has 5 analysts' Buy ratings, 4 Hold, and 4 Sell ratings. The stock trades at 8.5X forward earnings.

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