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Michael Pachter Says Pandora Isn't A Good Fit For Verizon

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Michael Pachter Says Pandora Isn't A Good Fit For Verizon

Pandora Media Inc (NYSE: P) seems to be proving the adage that beauty is in the eye of the beholder. Or maybe it’s more objectively attractive than it first appeared.

After fielding analyst criticism that its sale is generally unappealing, Pandora has allegedly caught the eye of Verizon Communications Inc. (NYSE: VZ). The company is reportedly considering investing in Pandora if Sirius XM Holdings Inc. (NASDAQ: SIRI) doesn’t come through with a deal this week, according to a report by the New York Post.

However, Wedbush analyst Michael Pachter doubts Verizon’s interest.

"I don’t think it’s accurate,” Pachter told Benzinga in an email. “Think SIRI makes much more sense, don’t see a fit with VZ at all."

However, the marriage between a telecommunications firm and music streamer is not unprecedented. In January, Sprint Corp (NYSE: S) announced a partnership with Jay Z’s Tidal service.

The most recent rumor remains unconfirmed, though, with both Pandora and Verizon declining to comment.

At time of publication, Pandora was trading up 1.9 percent and Verizon down 0.13 percent on the day.

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Posted-In: Michael Pachter WedbushAnalyst Color M&A News Exclusives Tech Best of Benzinga

 

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