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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
Jul 2016Pacific CrestDowngradesSector WeightUnderweight
Jul 2016Piper JaffrayUpgradesNeutralOverweight
Jun 2016Morgan StanleyUpgradesEqualweightOverweight

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Posted-In: Stifel NicolausAnalyst Color Price Target Initiation Analyst Ratings

 

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