Wells Fargo Downgrades Pandora (P) to Market Perform

Wells Fargo downgraded Pandora (NYSE: P) from Outperform to Market Perform with a price target of $15-$17 (from $29-$31). Analyst Peter Stabler said a pivot toward platform investment has changed the near-term margin outlook, adding uncertainty to a story that is already clouded by ongoing CRB rate arbitration.

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 $18.41 yesterday.

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