Wunderlich Lowers SIRI PT from $3.80 to $3.50

Wunderlich has reduced their PT on Sirius XM to $3.50 from $3.80

• Apple's CarPlay may dampen 2014 valuation multiple even if Sirius remains largely unscathed longer term. 
• Form 8-K filed after close shows amended $1.25bn credit facility, restricted payment latitude for $2bn buyback authorization

 Here's the analyst report:

Wunderlich Securities Inc SIRIUS XM Radio Inc. SIRI Still Resisting the Siren Song of Sirius Moving Into To...