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April 15, 2014
10:16 EDTSIRI, PPandora rises after optimistic notes from analysts
Shares of Internet radio provider Pandora Media (P) are advancing after one research firm upgraded the stock and another remained upbeat on the shares. WHAT'S NEW: In a note to investors earlier today, research firm Maxim Group upgraded Pandora to Buy from Hold. After Pandora's stock tumbled nearly 40%, the shares have reached an attractive entry point, Maxim Group analyst John Tinker wrote. Noting that the Media Ratings Council accredited Triton's webcast measurement service, Tinker thinks this development will increase advertisers' confidence in Pandora's audience data. Pandora provides Triton's audience data to its advertisers. The Media Ratings Council was founded by the broadcast industry in the 1960s to review and accredit audience rating services, according to its website. Organizations that provide ratings for traditional radio also receive their accreditation from the council, Tinker wrote. Meanwhile, Pandora has received some favorable news regarding royalties in recent weeks, suggesting that its royalty rate will remain "manageable," the analyst added. He set a $55 price target on the shares. Separately, Pacific Crest analyst Corey Barrett wrote that Pandora would eventually become a "quintessential" part of high tech cars. Pandora's penetration of automobiles could match that of Sirius XM (SIRI) by 2017, the analyst predicted. Pandora's opportunity in cars should more than offset the increasing competition it is facing, and a slowdown in the growth of its mobile user growth in the near-term, Barrett believes. He kept a $45 price target and Outperform rating on the shares. PRICE ACTION: In early trading, Pandora climbed 72c, or 3%, to $26.
News For P;SIRI From The Last 14 Days
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March 5, 2015
10:05 EDTSIRIOn The Fly: Analyst Initiation Summary
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08:09 EDTSIRIDeutsche Bank hosts an Analyst/Industry Media & Entertainment conference call
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05:40 EDTSIRISirius XM initiated with a Hold at Deutsche Bank
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March 3, 2015
07:04 EDTPPandora monetization improving, says JMP Securities
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March 2, 2015
15:55 EDTPPandora to hold analyst and investor day
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07:38 EDTPJMP Securities to hold a conference
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February 25, 2015
16:26 EDTSIRILiberty Media reiterates 2015 guidance
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16:25 EDTSIRILiberty Media reports Q4 revenue $1.09B, consensus $1.09B
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10:01 EDTPOn The Fly: Analyst Initiation Summary
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07:55 EDTPPandora initiated with a Market Perform at JMP Securities
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February 23, 2015
09:44 EDTPPandora management to meet with JPMorgan
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February 19, 2015
14:43 EDTPPandora shares may still have room to fall, WSJ says
Pandora’s valuation is high and the shares could continue their recent slide amid concerns about decelerating growth, rising costs and an upcoming ruling on the statutory rates paid by Pandora and peers to musicians, said The Wall Street Journal's "Heard on the Street" column.Reference Link

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