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Stifel Resumes Coverage Of Pandora

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In a note released Wednesday morning, Stifel resumed coverage on Pandora Media (NYSE: P) with a Buy rating an a $34 price target.

Stifel wrote, "Pandora has meaningfully disrupted broadcast radio listening and taken commanding share of internet radio."

The firm believes Pandora will be able to continue its listener per hour growth over the mid- to long-term through its improved distribution channels and further international expansion.

Looking to monetization, the firm commented, "We are encouraged by Pandora's monetization improvements over the past 12-18 months and believe it can continue to increase revenue per 1,000 listener hours (RPM) in the near term as it still under-monetizes its listening compares to broadcast radio stations."

Latest Ratings for P

DateFirmActionFromTo
Apr 2016Raymond JamesDowngradesOutperformMarket Perform
Apr 2016CitigroupInitiates Coverage onBuy
Mar 2016Mizuho SecuritiesInitiates Coverage onNeutral

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