Wedbush Downgrades Pandora (P) to Neutral, Lifts PT to $11.50

Article Stock Quotes (1) Comments (0)

Wedbush downgraded Pandora (NYSE: P) from Outperform to Neutral but raises its price target from $10 to $11.50. The firm cited valuation.

The firm comments, "While we have concerns about valuation, competition, and royalty rates, we are raising our 12- month price target to $11.50 from $10 to reflect high expectations for Q4, an improving advertising landscape for Pandora, and continued Internet and mobile growth."

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 $11.59 yesterday, with a 52 week range of $7.08-$15.25.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
• Macquarie Downgrades CME Group (CME) to Neutral
• First Time Cruisers Pass on Carnival (CCL); Wells Fargo Cuts to Market Perform

Create E-mail Alert Related Categories

Analyst PT Change, Downgrades

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?