Sirius XM gets Buy rating ahead of Q2 earnings with strong EPS growth expected

Benchmark reaffirmed a Buy rating for Sirius XM as the company prepares to release its Q2 earnings report, with analysts forecasting a 36.8% increase in earnings per share to $0.78 and revenues of $2.14 billion. Wells Fargo upgraded the stock, raising its price target to $30 due to a revaluation of Sirius XM's spectrum assets to $5 billion. The stock has risen 54% in 2026, and investors are now focusing on free cash flow and full-year guidance rather than subscriber numbers. This positive outlook highlights confidence in Sirius XM's stable growth and profitability as a mature audio entertainment company.