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UPDATE: Goldman Sachs Raises PT on Pandora Media Following Follow-On Public Offering Price Announcement

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In a report published Thursday, Goldman Sachs analyst Heath P. Terry reiterated a Buy rating on Pandora Media (NYSE: P), and raised the price target from $29.00 to $30.00.

In the report, Goldman Sachs noted, “Pandora priced its previously announced follow-on public offering of 18.2mn shares. The company will offer 13mn shares at $25 and Crosslink Capital will offer 5.2mn shares. The underwriters also have the option to purchase another 2.73mn shares. There is no change to our investment thesis as a result of the offering.”

Pandora Media closed on Wednesday at $25.64.

Latest Ratings for P

DateFirmActionFromTo
Nov 2014FBR CapitalDowngradesMarket PerformUnderperform
Oct 2014Albert Fried & Co.DowngradesMarket PerformUnderweight
Oct 2014SusquehannaDowngradesPositiveNeutral

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Posted-In: Goldman Sachs Heath P. TerryAnalyst Color Price Target Analyst Ratings

 

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