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Thursday, Aug 30
2012, 11:02 AM
Pandora (P +18.8%) is breaking out of that trading range it has been stuck in, as shorts cover...
Pandora (P +18.8%) is breaking out of that trading range it has been stuck in, as shorts cover following a solid earnings report fueled by soaring mobile ad sales. SunTrust and Canaccord are upgrading Pandora to Buy - the latter cites improving visibility, moderating content costs, and stronger mobile monetization. Canaccord now sees Pandora generating $40 in 2015 revenue per thousand mobile ads, up from a prior $25. Mobile display ad firm Millennial Media (MM +3.1%) is also higher. (transcript)