Market Overview

UPDATE: Stifel Nicolaus Downgrades Pandora Media on Balanced Risk/Reward

Related P
Pandora Media Inc Rallies Strongly To Resistance
Midday Gainers From September 16 - Glimcher Realty Trust, Pandora Media Inc And More
Claman on Call: All Eyes on the Fed (Fox Business)

In a report published Friday, Stifel analyst Jordan Rohan downgraded the rating on Pandora Media (NYSE: P) from Buy to Hold, and removed the $23.00 price target.

In the report, Stifel noted, “We have reduced our rating on Pandora from Buy to Hold. Three reasons: 1) The investment story for Pandora has shifted back from a focus on margins, including constraints on hours streamed, to a focus on market share at the expense of margins. 2) Upside in the July quarter came from sub revenues, not ad revenues, and this growth in subscriber revenues is likely to subside. 3) Shares were within 6% of our prior $23 target, not providing sufficient upside to ride through the volatility that comes with intensifying competition in the Internet radio market.”

Pandora Media closed on Thursday at $21.71.

Latest Ratings for P

DateFirmActionFromTo
Jul 2014JP MorganMaintainsOverweight
Jun 2014Morgan StanleyAssumesEqual-weight
May 2014MKM PartnersMaintainsBuy

View More Analyst Ratings for P
View the Latest Analyst Ratings

Posted-In: Jordan Rohan Stifel NicolausAnalyst Color Downgrades Analyst Ratings

 

Related Articles (P)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters