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P

Pandora

$8.52

0.1 (1.19%)

, SIRI

SiriusXM

$5.20

-0.2 (-3.70%)

07:09
06/12/17
06/12
07:09
06/12/17
07:09

Pandora upgraded to Outperform from Market Perform at FBR Capital

FBR Capital analyst Barton Crockett upgraded Pandora Media (P) to Outperform but lowered his price target for the shares to $11 from $14. Oppenheimer this morning downgraded the shares to Perform. Crockett believes the setup for Pandora "looks enticing" given low investor expectations and the presence of John Malone following the investment by SiriusXM (SIRI).

P

Pandora

$8.52

0.1 (1.19%)

SIRI

SiriusXM

$5.20

-0.2 (-3.70%)

P Pandora
$8.52

0.1 (1.19%)

06/12/17
OPCO
06/12/17
DOWNGRADE
OPCO
Perform
Pandora downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Jason Helfstein downgraded Pandora Media (P) to Perform citing a "failure" of his takeout thesis. The capital investment from SiriusXM (SIRI) and Ticketfly will allow Pandora to refocus on its core advertising business, which is the correct strategy, Helfstein tells investors in a research note. He sees share upside to "only" $9.50-$11.00 and removed his $14 price target on the stock. The analyst sees the fundamental turnaround taking time.
06/09/17
EVER
06/09/17
NO CHANGE
EVER
In Line
Terms of Pandora deal look attractive for SiriusXM, says Evercore ISI
After Sirius XM (SIRI) announced an agreement to take the equivalent of a 16% stake in Pandora (P) via the purchase of $480M in Pandora preferred stock, Evercore ISI analyst Vijay Jayant said the terms are attractive to Sirius and he believes the investment makes financial and strategic sense. He does not see this deal limiting Sirius' ability to return capital to shareholders, adding that he continues to view Liberty SiriusXM (LSXMA) as "the best vehicle to get exposure" to Sirius shares. Jayant has an In Line rating on Sirius XM and an Outperform rating on Liberty SiriusXM.
06/09/17
PIPR
06/09/17
NO CHANGE
PIPR
'Significant overhang' removed from Pandora shares, says Piper Jaffray
Piper Jaffray analyst Stan Meyers says the investment by SiriusXM (SIRI), while not a full takeout, "meaningfully" strengthens Pandora Media's (P) balance sheet, which he feels has been weighing on the shares. The deal announced this morning also brings a strategic partner that "can help grow Pandora in the car," Meyers tells investors in a research note. He believes the news removes a "significant overhang" on Pandora shares. The analyst keeps an Overweight rating on the name with an $18 price target.
05/19/17
05/19/17
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. 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." 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. 2. Wells Fargo analyst Jeff Farmer downgraded Bloomin' Brands (BLMN) to Market Perform saying Street estimates could prove aggressive due to labor costs while share repurchases are decelerating. 3. Deutsche Bank analyst Tiffany Kanaga downgraded The Buckle (BKE) to Sell, citing a lack of near-term support post the Q1 report and continued long-term concerns. 4. HSBC analyst Steve McGarry downgraded Shire (SHPG) to Reduce, saying that while the hereditary angioedema data are positive, investors should avoid the "hemophilia risk." 5. RBC Capital analyst Matthew Hedberg downgraded Symantec (SYMC) to Sector Perform from Outperform, citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SIRI SiriusXM
$5.20

-0.2 (-3.70%)

06/08/17
MSCO
06/08/17
NO CHANGE
MSCO
Morgan Stanley makes "big" cuts to US Auto Sales forecasts
Morgan Stanley analyst Adam Jonas made "big" cuts to his US auto industry sales forecast, reducing his 2017 US SAAR forecast to 17.3M units from 18.3M units, 2018 to 16.4M units from 18.9M units, 2019 to 15M units from 19.2M units, and 2020 to 15M units from 18.7M units. Jonas believes the auto cycle may be hitting a point of diminishing returns following 8 years into the biggest cycle on record as used car values erode, pressuring conditions for selling new vehicles, and said new vehicle inventory levels continue to rise. Additionally, the analyst expects electrical margins to face increasing competition from new entrants and higher development costs. As a result, Jonas cut estimates across the board and downgraded Lear (LEA) to Underweight from Equal Weight.

TODAY'S FREE FLY STORIES

01:55
11/22/17
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Conference/Events
Morgan Stanley analysts hold an analyst/industry conference call »

Sales Specialist Prowse…

DE

Deere

$139.23

2.31 (1.69%)

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PCRX

Pacira

$42.65

0.45 (1.07%)

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CEIX

CONSOL Energy

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Iconix Brand

$2.55

0.28 (12.33%)

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S&P announces changes to S&P SmallCap 600 index »

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CEIX

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ICON

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$2.55

0.28 (12.33%)

CNX

Consol

$16.27

0.23 (1.43%)

PDFS

PDF Solutions

$15.86

0.11 (0.70%)

BBOX

Black Box

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0.55 (15.28%)

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TIVO

TiVo

$17.65

0.15 (0.86%)

, CMCSA

Comcast

$36.42

0.59 (1.65%)

18:52
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11/21
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Recommendations
TiVo, Comcast analyst commentary at JPMorgan »

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TiVo

$17.65

0.15 (0.86%)

CMCSA

Comcast

$36.42

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GKOS

Glaukos

$25.35

-2.86 (-10.14%)

18:48
11/21/17
11/21
18:48
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18:48
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Glaukos analyst commentary at Piper Jaffray »

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DIS

Disney

$103.00

0.25 (0.24%)

, CMCSA

Comcast

$36.42

0.59 (1.65%)

18:31
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11/21
18:31
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18:31
Periodicals
Hulu sued for failure to offer audio service for blind subscribers, NY Post says »

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DIS

Disney

$103.00

0.25 (0.24%)

CMCSA

Comcast

$36.42

0.59 (1.65%)

CMCSK

Comcast

TWX

Time Warner

$89.56

1.85 (2.11%)

FOX

21st Century Fox

$30.10

0.2 (0.67%)

FOXA

21st Century Fox

$30.88

0.22 (0.72%)

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MGA

Magna

$54.29

0.37 (0.69%)

18:23
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11/21
18:23
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18:23
Hot Stocks
Magna announces two share repurchase programs »

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PTLA

Portola Pharmaceuticals

$50.80

1.29 (2.61%)

18:23
11/21/17
11/21
18:23
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Hot Stocks
Portola: FDA extends review period for PAS for Bevyxxa »

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  • 02

    Feb

PBMD

Prima BioMed

$1.65

-0.03 (-1.79%)

18:09
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11/21
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Prima BioMed secures European patent grant for lead product IMP321 in cancer »

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CPRT

Copart

$36.70

0.39 (1.07%)

18:06
11/21/17
11/21
18:06
11/21/17
18:06
Earnings
Copart reports Q1 non-GAAP EPS 33c, consensus 27c »

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  • 22

    Nov

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PCTY

Paylocity

$47.79

-0.64 (-1.32%)

18:01
11/21/17
11/21
18:01
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Hot Stocks
Paylocity chairman sells 736,845 common shares »

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  • 21

    Nov

MDC

M.D.C. Holdings

$35.10

0.91 (2.66%)

18:01
11/21/17
11/21
18:01
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Hot Stocks
M.D.C. Holdings declares special 8% stock dividend »

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PDFS

PDF Solutions

$15.86

0.11 (0.70%)

, BBOX

Black Box

$4.15

0.55 (15.28%)

17:59
11/21/17
11/21
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17:59
Hot Stocks
Breaking Hot Stocks news story on PDF Solutions, Black Box »

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PDF Solutions

$15.86

0.11 (0.70%)

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Black Box

$4.15

0.55 (15.28%)

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HPQ

HP Inc.

$22.46

0.34 (1.54%)

17:58
11/21/17
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Hot Stocks
Breaking Hot Stocks news story on HP Inc. »

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  • 21

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CEIX

CONSOL Energy

, ICON

Iconix Brand

$2.55

0.28 (12.33%)

17:57
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Hot Stocks
Breaking Hot Stocks news story on CONSOL Energy, Iconix Brand »

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HPQ

HP Inc.

$22.46

0.34 (1.54%)

17:53
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Hot Stocks
Breaking Hot Stocks news story on HP Inc. »

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  • 21

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TMQ

Trilogy Metals

$0.92

-0.0211 (-2.25%)

17:53
11/21/17
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17:53
Syndicate
Breaking Syndicate news story on Trilogy Metals »

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TRNO

Terreno Realty

$37.74

0.74 (2.00%)

17:50
11/21/17
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17:50
Initiation
Terreno Realty initiated at National Securities »

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  • 14

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HPQ

HP Inc.

$22.47

0.355 (1.61%)

17:47
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Hot Stocks
HP Inc.: 'Stay tuned' for news on metal 3D printing »

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  • 21

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THC

Tenet

$13.34

0.17 (1.29%)

17:47
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Initiation
Tenet initiated at William Blair »

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LPNT

LifePoint

$43.85

0.65 (1.50%)

17:47
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LifePoint initiated at William Blair »

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LHCG

LHC Group

$67.98

1.46 (2.19%)

17:46
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LHC Group initiated at William Blair »

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HLS

HealthSouth

$48.46

0.85 (1.79%)

17:46
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HealthSouth initiated at William Blair »

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HCA

HCA Healthcare

$75.89

1.28 (1.72%)

17:46
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HCA Healthcare initiated at William Blair »

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