Morgan Stanley Sees Pandora Media as Poised to Capitalize on Digital Ad Movement in 2014
In a report published Thursday, Morgan Stanley analyst Scott Devitt reiterated an Equal-Weight rating on Pandora Media (NYSE: P).
In the report, Morgan Stanley noted, “Pandora posted a slight CQ4:13 beat on ad revenue strength and reached non-GAAP profitability for the full calendar year. Pandora's revenue guidance for 2014 came in below Consensus but we think its growing sales force will continue to lift up ad RPMs throughout 2014E. We raise our base case to $33.”
Pandora Media closed on Wednesday at $35.83.
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