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Bearish Pandora Analyst Calls Deal With Microsoft A 'Fairy Tale,' Recalls Prior McAndrews Deal

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Albert Fried & Company believes Microsoft (NASDAQ: MSFT)/Pandora (NASDAQ: P) story is likely a “fairy tale” and the Microsoft board is “likely to refuse a transaction with Brian McAndrews," CEO of Pandora.

The firm's Tullo recalled a deal in 2012 where “Microsoft wrote down its $6.2 billion in cash to buyout of aQuantive an Ad Exchange operated by [current] Pandora CEO Brian McAndrews.”

The analyst suggested the purchase of aQuantive “is one of the reasons why McAndrews is not the MSFT CEO.”

Tullo maintains an Underweight rating and $23 price target on Pandora.

Despite the seemingly bearish comments from Tullo, Pandora shares are up nearly 4 percent on Wednesday. The stock is now up more than 5 percent so far this week.

Latest Ratings for MSFT

DateFirmActionFromTo
Apr 2016MacquarieInitiates Coverage onNeutral
Apr 2016Goldman SachsMaintainsNeutral
Apr 2016Morgan StanleyMaintainsOverweight

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