UPDATE: Canaccord Genuity Upgrades Pandora (P) to Buy; Strong Results Should Be Sustainable
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Price: $16.43 -4.25%
Rating Summary:
17 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
17 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade P Now!
(Updated - August 30, 2012 8:18 AM EDT)
Canaccord Genuity upgraded Pandora (NYSE: P) from Hold to Buy with a price target of $16.00 (from $13.00), following strong earnings after the close.
Analyst, Michael Graham, said, "We upgrade Pandora from Hold based on improving visibility to our now-higher baseline forecast, and on potential upside stemming from higher mobile monetization and possibly from moderating content costs."
"For Q3 and F2013, we are raising estimates slightly above management’s guidance. For 2014-2016, we are generally raising revenue and EPS estimates on more bullish assumptions around mobile monetization rates. Our new 2015 mobile RPM assumption is $40, up from $25."
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 $10.08 yesterday, with a 52 week range of $7.83-$15.97.
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Canaccord Genuity upgraded Pandora (NYSE: P) from Hold to Buy with a price target of $16.00 (from $13.00), following strong earnings after the close.
Analyst, Michael Graham, said, "We upgrade Pandora from Hold based on improving visibility to our now-higher baseline forecast, and on potential upside stemming from higher mobile monetization and possibly from moderating content costs."
"For Q3 and F2013, we are raising estimates slightly above management’s guidance. For 2014-2016, we are generally raising revenue and EPS estimates on more bullish assumptions around mobile monetization rates. Our new 2015 mobile RPM assumption is $40, up from $25."
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 $10.08 yesterday, with a 52 week range of $7.83-$15.97.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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