Market Overview

UPDATE: Piper Jaffray Reiterates on Pandora Media on Reduced Risk Profile, Improving Trends, Growth Initiatives

Share:
Related P
What's To Like About Pandora's Latest Earnings?
Pandora...The Day After
Apple's music service talks spark antitrust concerns (Investor's Business Daily)

In a report published Tuesday, Piper Jaffray analyst James M. Marsh reiterated an Overweight rating on Pandora Media (NYSE: P), and raised the price target from $27.00 to $37.00.

In the report, Piper Jaffray noted, “We are reiterating our Overweight rating on Pandora, raising our FY14 estimates and our price target (to $37 from $27). Our continued bullishness on Pandora shares largely hinges on improving mobile monetization (helped out by increasing demand for high quality mobile advertising platform, a better local sales force and increased ad loads), but also on a more benign competitive landscape now that all major players have entered the market. We expect management to continue to invest in Sales and R&D in FY14 as Pandora builds out its local sales effort and the necessary infrastructure to continue to take share in the local radio ad market. After playing defense and absorbing new competitors domestically, we expect management to go on the offense focusing on international expansion and the connected car.”

Pandora Media closed on Monday at $31.56.

Latest Ratings for P

DateFirmActionFromTo
Apr 2015Pacific CrestMaintainsOverweight
Apr 2015AxiomInitiates Coverage onHold
Mar 2015CRT CapitalUpgradesFairly ValuedBuy

View More Analyst Ratings for P
View the Latest Analyst Ratings

Posted-In: James M. Marsh Piper JaffrayAnalyst Color Price Target Analyst Ratings

 

Related Articles (P)

Around the Web, We're Loving...