Pandora (P) May Metrics 'Satisfactory'; SunTrust Keeps at 'Buy'

SunTrust Robinson Humphrey maintains its Buy rating and $34 price target on Pandora (NYSE: P) following the company's May metrics update.

Analyst Robert Peck said that Pandora's metrics were satisfactory. The analyst also said that there was no change to the firm's investment thesis and offered the following key points:

• Robust radio monetization runway driven by auto (initial data suggests Pandora users that also adopt in-auto see 20% lift in listening hours), measurement, local salesforce, and ad load;

• Robust mobile display monetization runway driven by secular, ad tech, and video; and

• Long-term optionality around international, content extension, audio ad tech, and M&A.

For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.

Pandora closed at $24.61 yesterday.

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