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Sirius XM Moves Notably Higher After Upgrade By JPMorgan

After initially showing a lack of direction, shares of Sirius XM Holdings Inc. (SIRI) have shown a strong move to the upside over the course of the trading day on Wednesday. Sirius XM is currently up by 2.3 percent.

The advance by Sirius XM comes after JPMorgan Chase upgraded its rating on the satellite radio company to Overweight from Neutral.

JPMorgan suggested a recent sell-off by Sirius XM has created a buying opportunity ahead of the closing of the company's acquisition of Pandora Media (P).

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