Topeka Initiates Pandora Media At Hold

On Tuesday analysts at Topeka Capital Markets initiated coverage on Pandora Media P with a hold rating and $30 price target.

Analysts find competition is increasing and users are splitting time with other internet audio services, potentially putting pressure on growth for the company.

In addition, Victor Anthony stated, “Pandora could potentially face escalating content costs beginning in 2016.”

Shares of Pandora Media recently traded at $25.35 pre-market Tuesday.