Canaccord Genuity Maintains a 'Hold' on Pandora (P); Solid Quarter, But Risk/Reward Balanced
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Price: $108.55 -1.3%
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
10 Buy, 24 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Canaccord Genuity maintains a 'Hold' on Pandora (NYSE: P) price target of $13.00.
Analyst, Michael Graham, said, "Pandora reported a solid quarter that we believe brushed aside some of the worst fears about the company’s business model following its lackluster performance during Q4/F12. We are encouraged to see that the remnant ad impact on the top line was isolated to January, but we believe the company still remains a long distance away from being able to monetize mobile usage at rates similar to desktop."
"We are increasing our estimates to reflect management’s more positive outlook for the business but remain cognizant of the challenges the company is facing in monetizing mobile usage."
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 $10.33 yesterday.
Analyst, Michael Graham, said, "Pandora reported a solid quarter that we believe brushed aside some of the worst fears about the company’s business model following its lackluster performance during Q4/F12. We are encouraged to see that the remnant ad impact on the top line was isolated to January, but we believe the company still remains a long distance away from being able to monetize mobile usage at rates similar to desktop."
"We are increasing our estimates to reflect management’s more positive outlook for the business but remain cognizant of the challenges the company is facing in monetizing mobile usage."
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 $10.33 yesterday.
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