Barrington Research upgrades Sirius XM (SIRI) to outperform from market perform, and offered a 12 month price target for Sirius XM stock to 70 cents, double its closing price on Monday of 35 cents. Barrington says “new initiatives like the iPhone App are being very well received,” and they believe that despite the severe downturn for the stock price and the economy, “things are beginning to change, and that perhaps brighter days are ahead for satellite radio investors.” Barrington also cited the cost cuts imposed by Sirius XM, the added Internet charges and increased subscription prices which will help boost their bottom line. The company is also expected to add a “royalty recovery” fee under terms of an FCC agreement. Catch a current Sirius XM stock quote here.