On October 9, Sirius XM rose 5.77% in pre-market trading, trading at $27.8025 per share. The move followed Deutsche Bank's upgrade of the stock to Buy from Hold and a significant target price increase to $45 from $31, boosting market sentiment.

In its research note, Deutsche Bank cited a more optimistic fundamental outlook and viewed current valuation as attractive. The new target is well above the analyst average of $30.77. Previously, Barrington Research raised its target to $36 in late July and maintained an Outperform rating. Sirius XM operates subscription satellite and streaming services, the Pandora advertising-supported music platform, podcast networks, and connected vehicle services.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)