Pandora Media (NYSE:P) is up 1.7% after getting a new Street-high price target at Needham.
Analyst Laura Martin has boosted her target to $13 from $8, implying 38% upside, on prospects for faster sub growth from a focus on partnerships, and lower customer acquisition costs. Minimum CPM prices per ad unit will shake out the ones with the lowest profitability, she says, and the company will execute better in other ways, including cost efficiencies. (h/t Bloomberg)
Pandora shares are up 18.9% over the past month and have risen 96% in 2018.
Subscribe for full text news in your inbox