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P

Pandora

$9.42

0.49 (5.49%)

, LSXMA

Liberty SiriusXM

$37.98

1.55 (4.25%)

06:22
05/19/17
05/19
06:22
05/19/17
06:22

Pandora downgraded to Neutral from Outperform at Macquarie

Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." Yong said Liberty SiriusXM (LSXMA) is expected to remain financially disciplined and opportunistic, and unlikely to pay a substantial premium for Pandora. The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. As a result, Yong trimmed Pandora ad and subscription estimates to reflect the increasingly competitive environment and said profitability remains a question.

P

Pandora

$9.42

0.49 (5.49%)

LSXMA

Liberty SiriusXM

$37.98

1.55 (4.25%)

  • 24

    May

P Pandora
$9.42

0.49 (5.49%)

05/09/17
NEED
05/09/17
NO CHANGE
Target $16
NEED
Buy
KKR adds $5 per share to Pandora value, says Needham
Noting that Pandora (P) announced it had raised $150M by selling a 5-year, 8% convertible preferred security to KKR (KKR), Needham analyst Laura Martin calculates that adding KKR to the Pandora story adds $5 per share to the latter's value, implying that it should trade up to $15 per share on the news over time. The analyst believes KKR provides a financial safety net, and expects KKR's exit time frame to be 5 years, giving public shareholders a clearer exit path. She reiterates a Buy rating and $16 price target on Pandora's shares.
05/17/17
GSCO
05/17/17
DOWNGRADE
GSCO
Buy
Pandora downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Heath Terry removed Pandora from the Conviction Buy List given the slower than expected launch of Premium. Terry said he was wrong in thinking the market would focus on new subscription products and a return to profitability by Q4. Investors are clearly more focused on execution issues of unexpected financing needs and attempts to sell its recently acquired ticketing business, along with increasing competition, the analyst wrote. Terry continues to rate Pandora a Buy with a $16 price target given the significant strategic value of the user base, home screen position, and advertising inventory data, and believes a strategic actions are likely.
05/17/17
05/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Neutral from Outperform at Macquarie with analyst Tim Nollen saying the company's exposure to cable and "outsized" subscriber declines at ESPN "have again become a focal point in investors' minds." 2. Pandora (P) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Heath Terry saying he was wrong in thinking the market would focus on new subscription products and a return to profitability by the fourth quarter. 3. Square (SQ) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer citing valuation following the strong rally and removed his $20 price target. 4. AMD (AMD) downgraded to Hold from Buy at Loop Capital with analyst Betsy Van Hees saying she believes the stock is fairly valued and is already pricing in "a lot," including the launches of RYZEN CPUs, Vega GPUs and the new EPYC server chip. 5. Etsy (ETSY) downgraded to Hold from Buy at Loop Capital with analyst Blake Harper saying with Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/18/17
RHCO
05/18/17
NO CHANGE
RHCO
Pandora could be acquired for $12 per share, says SunTrust
After The New York Post reported that merger talks between Pandora (P) and Sirius XM (SIRI) have resumed, SunTrust analyst Matthew Thornton says that Pandora can be acquired for a per share price of "$9+-$12+." He thinks that other suitors besides Sirius could include Tencent (TCEHY), Spotify, and Google (GOOG,GOOGL) However, the analyst adds that Pandora's new features have not impacted the company's fundamentals significantly, while the launch of its new products has been delayed. He cut his price target on the shares to $10.50 from $16 but kept a Buy rating on the stock.
LSXMA Liberty SiriusXM
$37.98

1.55 (4.25%)

07/12/16
07/12/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kate Spade (KATE) initiated with an Outperform at William Blair. 2. Ulta Beauty (ULTA) coverage resumed with a Hold at Stifel. 3. Cognizant (CTSH) initiated with an Overweight at Pacific Crest. 4. Fitbit (FIT) initiated with a Market Perform at Wells Fargo with analyst Stephen Lynch saying the company's 2016 guidance calls for a "meaningful deceleration" of revenue growth, which puts the impetus on product innovation. 5. Liberty SiriusXM (LSXMA) initiated with an Outperform and Sirius XM (SIRI) initiated with a Market Perform at Telsey Advisory. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/16
MACQ
11/14/16
UPGRADE
MACQ
Outperform
Liberty SiriusXM upgraded to Outperform from Neutral at Macquarie
11/16/16
DBAB
11/16/16
DOWNGRADE
Target $39
DBAB
Hold
Liberty SiriusXM downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Bryan Kraft downgraded Liberty SiriusXM (LSXMA) to Hold citing valuation with Sirius XM (SIRI) shares up nearly 10% since the end of October. The analyst expects the two companies to combine eventually, but feels the "timing is unclear." Kraft raised his price target for Liberty SiriusXM shares to $39 from $37.
11/16/16
FBNS
11/16/16
UPGRADE
FBNS
Outperform
Liberty SiriusXM upgraded to Outperform from Sector Perform at FBN Securities

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DGX

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BPMX

BioPharmX

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MBVX

MabVax Therapeutics

$0.74

0.0248 (3.47%)

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IBKC

Iberiabank

$80.15

0.05 (0.06%)

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DRRX

Durect

$1.97

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QCP

Quality Care Properties

$16.26

0.07 (0.43%)

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FTR

Frontier Communications

$11.48

0.02 (0.17%)

, CHH

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$68.45

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DRIO

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CUBI

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CELG

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NGD

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COR

CoreSite Realty

$114.84

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Sensient

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  • 25

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SXT

Sensient

$78.26

-0.43 (-0.55%)

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  • 20

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GPP

Green Plains Partners

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CELG

Celgene

$135.96

-1.21 (-0.88%)

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NSM

Nationstar

$19.71

-0.43 (-2.14%)

16:59
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Periodicals
Nationstar working with advisors on strategic options, Betaville says 

Reference Link

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CLW

Clearwater Paper

16:59
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Earnings
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