Pandora +3.4% on MKM upgrade

With shares down 44% from a March high of $40.44, MKM has upgraded Pandora (P) to Buy. The firm cites Pandora's sticky audience - the company has held Apple, Spotify, and a slew of other rivals at bay - and improving ad monetization/targeting.

Pandora ticked higher on Friday, shrugging off reports Apple is set to acquire Beats Electronics. MKM's upgrade comes five days after Pandora launched Promoted Stations, an ad solution that allows marketers to promote audio streams within a user's Stations You Might Like playlist section.

MKM started Pandora at Sell a year ago, when shares were at $16. It upgraded the Web radio leader to Neutral on March 5, when shares were at $39.

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Comments (4)
  • manicdvln
    , contributor
    Comments (1478) | Send Message
    So when stock went to 40$ these had a PT of 10$ and a sell.
    Then when they upgradedto neutral with PT 39$ stock tanked to 22$
    And now they claim a buy with a lowered PT?


    Seems like these guys don't believe in their own buy conviction. LOL


    ANALysts are useless. This is a sell, this garbage will be 5$ very soon.
    12 May 2014, 09:03 AM Reply Like
  • Quoth the Raven
    , contributor
    Comments (2063) | Send Message
    This is a $7 stock at best.
    12 May 2014, 09:07 AM Reply Like
  • D. Appleton & Company
    , contributor
    Comments (707) | Send Message
    I would not be surprised if Pandora is acquired by a large tech company.


    Their debt-less balance sheet is ideal for M&A and streaming music is big business right now.
    12 May 2014, 10:16 AM Reply Like
  • dgulick
    , contributor
    Comments (2186) | Send Message
    Barron's has a bit more on this upgrade:


    "Apple has not executed well on iTunes Radio and the iTunes music franchise is falling further into the realm of irrelevance."


    "The severe valuation collapse among mobile, local, social stocks has changed this and is creating a buying opportunity. "
    13 May 2014, 12:17 PM Reply Like
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