Pandora (P) Gets Even More Social with New Facebook (FB) Timeline App

Looking to stave off concerns that competition will eat its lunch, Pandora Media (NYSE: P) took being social with music to the next level: the addition of Facebook (Nasdaq: FB).

In an earlier release, Pandora said it was releasing a new Timeline App for Facebook. The app will allow listeners on both mobile and web "to automatically publish their music activity to their Facebook Timeline and curate their musical identity within the Music section for timeline," Pandora noted.

Notaby, Pandora said it has 200 million registered users, but its latest monthly update said active listeners were closer to 70.1 million at the end of April.

Shares of Pandora are up 2.2 percent Wednesday. Earlier, Needham & Co. raised its price target on the company by $4 to $20, while Albert Fried downgraded Pandora from Overweight to Market Perform.

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