Macquarie Positive On Pandora (P) Ahead Of New Subscription Service Launch

August 29, 2016 8:36 AM EDT
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Price: $13.78 +3.07%

Rating Summary:
    22 Buy, 21 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 28
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Macquarie analyst, Amy Yong, reiterated her Outperform on Pandora (NYSE: P) and believes the next subscription launch could be the first step in achieving $4B in revenue by 2020. The analyst is modeling 1) US$2.4bn of revenue from the core Internet radio service with ~60% gross margins; 2) US$1.3bn from a new expanded listening subscription service; and 3) US$300m from live events sponsorship.

No change to the price target of $17.

For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.

Shares of Pandora closed at $14.12 yesterday.

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