Pandora (P): Downside Limited By Takeover Potential - FBR

August 22, 2016 7:45 AM EDT
Get Alerts P Hot Sheet
Price: $12.77 +0.08%

Rating Summary:
    21 Buy, 22 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
Trade P Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

FBR Capital analyst, Barton Crockett, reiterated his Outperform rating on shares of Pandora (NYSE: P) along with his price target of $16 as the company is making progress in licensing rights from labels for an on-demand launch next month.

Nothing is yet announced, but the WSJ reported August 19 that Pandora was close to reaching terms with labels to launch a $10 per month on-demand service comparable to Spotify and Apple Music, while also providing greater skip/customization capability in its ad-free, $5 per month Pandora One radio service. Gaining flexibility to enhance Pandora One, encouragingly, leverages Pandora's music genome strength, while also favoring a lower price point that could be expansive to the market.

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 $13.35 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments

Add Your Comment