Sirius XM Holdings Inc. (SIRI) Raises PT to $22 by Morgan Stanley, Finalizes Multi-Year Agreement with Morbid

Sirius XM Holdings Inc. (SIRI) has finalized a multi-year agreement with popular true crime podcast "Morbid". The deal grants SIRI exclusive distribution and ad sales rights for the podcast's video and audio versions. Morgan Stanley has raised its price target on SIRI from $21 to $22, but maintains an "Underweight" rating, citing persistent secular pressures and the unchanged path to deleveraging. SIRI has also declared a quarterly dividend of $0.27 per share.

Sirius XM Holdings Inc. (SIRI) has announced a multi-year agreement with the popular true crime podcast "Morbid," granting the company exclusive distribution and ad sales rights for the podcast's video and audio versions. This strategic partnership aims to diversify Sirius XM's content offerings and capitalize on the growing popularity of true crime podcasts.

The deal comes as Sirius XM continues to navigate a challenging market environment. The company reported a 2% decline in revenue in the second quarter of 2025, with GAAP earnings per share falling short of analyst expectations by $0.20 [1]. Despite these financial pressures, Sirius XM's free cash flow increased by 27% year-over-year, supported by cost reductions [1].

Morgan Stanley has recently raised its price target on SIRI from $21 to $22, but maintains an "Underweight" rating, citing persistent secular pressures and the unchanged path to deleveraging [2]. The investment bank's analyst, however, acknowledges the potential upside from the new content partnerships.

In addition to the "Morbid" deal, Sirius XM has also declared a quarterly dividend of $0.27 per share, continuing its commitment to shareholder returns [1]. The company's focus on cost management and operational efficiency, along with its strategic content investments, will be key factors to watch as it seeks to maintain and grow its subscriber base.

References:
[1] https://www.nasdaq.com/articles/sirius-xm-siri-q2-revenue-rises-2
[2] https://www.marketbeat.com/instant-alerts/filing-seizert-capital-partners-llc-grows-stock-holdings-in-sirius-xm-holdings-inc-nasdaqsiri-2025-07-30/