Pandora upgraded at MKM Partners As previously reported, MKM Partners to Neutral from Sell. The firm upgraded shares citing fair valuation but believes investors are note factoring in potentially unfavorable music licensing rate renewals. Price target is $39.
Pandora listening hours soft but ad revenue strong, says Canaccord Canaccord noted Pandora's July listening hours were soft but its ad revenue in Q2 was strong as the company is being more selective in the area of proactively seeking engagement from high-RPM listeners. Canaccord reiterated its Buy rating and $26 price target on Pandora shares.