Pandora surges following JPMorgan note, hedge fund disclosures

|About: Pandora Media (P)|By:, SA News Editor

Three days after Needham issued a bullish note on Pandora (P +6.2%) ahead of its Nov. 21 FQ3 report, JPMorgan is joining in. The firm has raised its PT to $35 from $25, while declaring the Internet radio leader is nearing a revenue "inflection point" thanks to share gains and salesforce investments.

Also helping Pandora: Hedge funds Coatue Management and Tiger Consumer Management (both offshoots of Julian Robertson's Tiger Management) have disclosed they respectively opened 1.1M and 2.9-share positions in Pandora in Q3. Between them, Coatue and Tiger Consumer owned over 2% of the company at quarter's end.

Stephen Mandel's Lone Pine Capital owned 10.1M Pandora shares at the end of Q3, unchanged from when Lone Pine originally disclosed a position in the company on Oct. 3. (13F)