Loading...
Loading...
Late Monday night, Corvex's Keith Meister sent a letter to Pandora Media Inc
P board, urging the company to explore a sale. On the heels of this letter, the streaming music service jumped 5.9% to $10.58/share. Near the end of Tuesday's training session, Axiom's Victor Anthony gave his thoughts regarding the hedge fund's letter.
For Pandora , Anthony said that this news would be positive for the company for today. Ordinarily, this would be positive for a longer period of time, but Anthony said Pandora's situation is different. Potential acquirers such as Alphabet Inc
GOOGL, Apple Inc.
AAPL, and Amazon.com, Inc.
AMZN have their own streaming services. He also doubts telecoms, Spotify, and Sirius XM would be interested in Pandora despite Meister's desire for Pandora to explore a sale.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in