Pandora (P): Direct Licensing Deals, Another Step Towards Profitability - Wedbush
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Wedbush analyst, Michael Pachter, reiterated his Outperform rating on shares of Pandora (NYSE: P) on the belief that if the company can convert 2 million Pandora One subscribers to on-demand and attract both 1 – 2 million new U.S. on-demand subscribers, and 1 – 2 million international ondemand subscribers in 2017, the company has the ability to expand margins and return to profitability over the long-term. This is in addition to executing on the live events venture, on-demand subscription services and core international expansion.
No change to the price target of $15.
Shares of Pandora closed at $14.10 yesterday.
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