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Pandora Sale? Analyst Says Not So Fast

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Pandora Sale? Analyst Says Not So Fast

Late Monday night, Corvex's Keith Meister sent a letter to Pandora Media Inc (NYSE: P)'s board, urging the company to explore a sale. On the heels of this letter, the streaming music service jumped 6 percent to $10.59.

Near the end of Tuesday's training session, Axiom's Victor Anthony gave his thoughts regarding the hedge fund's letter.

Related Link: Pandora Could See A Squeeze Higher As Corvex Gets Involved

For Pandora, Anthony said 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 (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), and Amazon.com, Inc. (NASDAQ: 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.

Latest Ratings for P

DateFirmActionFromTo
Nov 2018Canaccord GenuityDowngradesBuyHold
Oct 2018Goldman SachsDowngradesBuyNeutral
Oct 2018BMO CapitalDowngradesOutperformMarket Perform

View More Analyst Ratings for P
View the Latest Analyst Ratings

Posted-In: axiom Victor AnthonyAnalyst Color Asset Sales M&A Analyst Ratings

 

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