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P

Pandora

$12.83

-0.34 (-2.58%)

06:44
10/17/16
10/17
06:44
10/17/16
06:44

Pandora downgraded to Underperform from Neutral at BofA/Merrill

BofA/Merrill analyst Nat Schindler downgraded Pandora to Underperform and lowered its price target to $9 from $14. The analyst believes Pandora's $4B revenue 2020 revenue goal will be difficult to achieve as the on-demand subscription streaming market has become increasingly competitive and the user base is fully penetrated. Schindler believes acquisition speculation has supported Pandora's valuation rather than fundamentals and lowered estimates to reflect reduced On-Demand services value given lower gross margin assumptions.

  • 25

    Oct

  • 25

    Oct

P Pandora
$12.83

-0.34 (-2.58%)

09/14/16
PACS
09/14/16
NO CHANGE
PACS
Pandora deal negative, says Pacific Crest
Pacific Crest analyst Andy Hargreaves says that Pandora's deals with music labels create a business model that "is fraught with a lack of limited control of content costs and a lack of incremental leverage on operating expenses." The analyst says that the agreement "cedes control of (Pandora's) content costs to the major labels," significantly reducing his confidence in the company's profitability going forward. He keeps an Underweight rating on the stock.
10/04/16
GSCO
10/04/16
UPGRADE
Target $19
GSCO
Conviction Buy
Pandora upgraded to Conviction Buy from Buy at Goldman
Goldman analyst Heath Terry added Pandora to the Conviction Buy List and raised his price target to $19 from $17. Terry sees sees significant upside to out-year estimates from premium radio and on-demand subscriptions. He expects competition to ease as new entrants slow and existing providers focus on profitability and limit "free" models.
10/04/16
10/04/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. CBS (CBS) upgraded to Buy from Sell at UBS with analyst Doug Mitchelson saying he sees any deal with Viacom (VIA) as priced into CBS shares already. He also has increased confidence in consensus estimates for CBS and sees further upside if the national TV ad market and CBS' ratings remain strong. 2. Pandora (P) upgraded to Conviction Buy from Buy at Goldman with analyst Heath Terry saying he sees significant upside to out-year estimates from premium radio and on-demand subscriptions. He expects competition to ease as new entrants slow and existing providers focus on profitability and limit "free" models. 3. Las Vegas Sands (LVS) upgraded to Buy from Neutral at BofA/Merrill with analyst Shaun Kelley saying shares remain fairly under-owned and thinks estimate revisions will move higher due to market momentum, better ROI for Parisian, Cotai infrastructure additions, and optionality from Japan and real estate. 4. KBR (KBR) upgraded to Buy from Hold at Deutsche Bank with analyst Chad Dillard saying yesterday's 10% post-guidance cut selloff is overdone and backward-looking. 5. West Marine (WMAR) upgraded to Buy from Neutral at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/16
JPMS
10/14/16
NO CHANGE
Target $134
JPMS
Overweight
JPMorgan tweaks Alibaba, Netflix targets lower ahead of Q3 results
JPMorgan analyst Doug Anmuth lowered his price target for Alibaba (BABA) to $134 from $135 and his target for Netflix (NFLX) to $122 from $125 ahead of the Q3 reporting season. Both stocks remain Overweight rated. The analyst slightly lowered his estimates for Alibaba to reflect tougher inventory comps and increased investment spending. He remains positive on the company's overall monetization trends. On Netflix, Anmuth tweaked his 2017 average selling price forecast lower while increasing his investment spend estimate modestly. Within the Internet space, the analyst's top large-cap picks into the quarter are Alphabet (GOOGL), Facebook (FB) and Amazon.com (AMZN). Among small-caps, his top picks into earnings are Yelp (YELP), Pandora (P) and Match Group (MTCH).

TODAY'S FREE FLY STORIES

NBR

Nabors Industries

$17.50

0.445 (2.61%)

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Treasury Futures Action: a large block purchase of Ultra bonds »

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ABMD

Abiomed

$108.87

1.48 (1.38%)

11:26
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  • 06

    Dec

DISCA

Discovery

$26.60

-0.55 (-2.03%)

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  • 05

    Dec

SUM

Summit Materials

$23.46

0.2 (0.86%)

11:20
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Conference/Events
Summit Materials management to meet with Stephens »

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  • 19

    Dec

P

Pandora

$13.59

0.255 (1.91%)

11:20
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11:20
Options
Bullish option play opened in Pandora »

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DISCA

Discovery

$26.60

-0.55 (-2.03%)

, T

AT&T

$38.75

0.14 (0.36%)

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Discovery CEO says 'well positioned' to take product direct to consumer in 2017 »

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DISCA

Discovery

$26.60

-0.55 (-2.03%)

T

AT&T

$38.75

0.14 (0.36%)

TWX

Time Warner

$93.84

0.04 (0.04%)

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  • 05

    Dec

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  • 07

    Dec

SCG

SCANA

$70.63

-0.29 (-0.41%)

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SCANA, Westinghouse receive order from DRB about construction milestone payment »

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BGNE

BeiGene

$30.86

0.06 (0.19%)

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  • 05

    Dec

NKE

Nike

$51.77

1.31 (2.60%)

11:16
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Technical Analysis
Nike moves to monthly highs, levels to watch »

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  • 20

    Dec

TGTX

TG Therapeutics

$5.50

0.05 (0.92%)

11:16
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TG Therapeutics announces oral data presentation for TGR-1202 at ASH »

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  • 05

    Dec

$NYE

NYSE Market Internals

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NYSE market internals summary »

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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NYT

New York Times

$13.00

0.2 (1.56%)

11:15
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Periodicals
New York Times sees more-than-tenfold increase in daily subs, Politico reports »

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  • 05

    Dec

11:15
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General news
Breaking General news story  »

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Breaking General news story  »

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GWPH

GW Pharmaceuticals

$112.32

3.04 (2.78%)

11:14
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  • 05

    Dec

ORA

Ormat Technologies

$47.50

0.17 (0.36%)

11:14
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Conference/Events
Ormat Technologies management to meet with Oppenheimer »

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  • 12

    Dec

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FGP

Ferrellgas Partners LP

$6.20

0.55 (9.73%)

11:13
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Upgrade
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  • 09

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ULTA

Ulta Beauty

$253.39

-4.02 (-1.56%)

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Conference/Events
Ulta Beauty management to meet with Oppenheimer »

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  • 07

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RSX

Market Vectors Russia ETF

$20.25

0.41 (2.07%)

11:10
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Options
Bullish option action in the VanEck Vectors Russia Fund »

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General news
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CDK

CDK Global

$56.91

-0.24 (-0.42%)

11:07
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Conference/Events
CDK Global management to meet with Oppenheimer »

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  • 07

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General news
More from Evans: analysts're on cusp of period of rising rates »

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KEYS

Keysight Technologies

$36.04

0.69 (1.95%)

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  • 07

    Dec

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