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SIRI

Sirius XM

$5.90

0.03 (0.51%)

, P

Pandora

$0.00

(0.00%)

09:02
04/04/19
04/04
09:02
04/04/19
09:02

Sirius XM, Pandora launch Pandora NOW

SiriusXM (SIRI) and Pandora (P) announced Pandora NOW, the first original and exclusive music experience created for both SiriusXM subscribers and Pandora listeners. Pandora NOW harnesses the combined strength of Pandora's extensive listener data and SiriusXM's curatorial expertise to create unique access to the most popular and fast-trending music right now. Pandora NOW features today's hottest and most listened to new music on Pandora but will be delivered uniquely to both the SiriusXM and Pandora audiences. For SiriusXM listeners, Pandora NOW will be presented as a new curated channel (Channel 3), while Pandora users can experience Pandora NOW music as an interactive station with song skipping and thumbs up/down rating, or as a continually-updated playlist for Pandora Premium subscribers. The music played on Pandora NOW will be uncensored and showcase the most listened to and fastest-trending new music on Pandora across all genres, including Pop, Hip Hop, R&B, Dance and Latin. Pandora NOW will launch on Thursday, April 4 on both platforms.

SIRI

Sirius XM

$5.90

0.03 (0.51%)

P

Pandora

$0.00

(0.00%)

  • 23

    May

SIRI Sirius XM
$5.90

0.03 (0.51%)

01/28/19
01/28/19
UPGRADE
Target $7.25

Buy
Sirius XM upgraded to Buy on Pandora approval boost at Buckingham
As previously reported, Buckingham upgraded Sirius XM (SIRI) to Buy from Neutral and maintained a $7.25 price target. Analyst Matthew Harrigan expects a favorable Pandora (P) shareholder vote tomorrow to approve Sirius' acquisition and management to reiterate transaction benefits on the Q4 conference call on Wednesday. Harrigan said spectrum ownership and Pandora synergies increases Sirius' 2019 upside potential to $9.25
01/29/19
RILY
01/29/19
INITIATION
Target $8
RILY
Buy
Sirius XM resumed with a Buy at B. Riley
B. Riley resumed Sirius XM with a Buy rating and a price target of $8.
01/30/19
01/30/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. United Continental (UAL) initiated with a Buy at Argus. 2. Amicus (FOLD) initiated with an Overweight at Cantor Fitzgerald. 3. Take-Two (TTWO) and Zynga (ZNGA) were initiated with a Buy at Goldman Sachs, while Electronic Arts (EA) and Activision Blizzard (ATVI) were initiated with a Neutral. 4. Sirius XM (SIRI) resumed with a Buy at B. Riley. 5. National Grid (NGG) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/19
MSCO
03/15/19
INITIATION
Target $6.5
MSCO
Equal Weight
Sirius XM resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne resumed coverage of Sirius XM (SIRI) with an Equal Weight rating and $6.50 price target, noting that acquiring Pandora with shares was dilutive to free cash flow per share but something he considers "a relatively low risk bet." He expects pro forma SiriusXM to grow revenue and adjusted EBITDA at a 6% and 9% 5-year CAGR respectively from 2019-2023. Swinburne also resumed coverage of Liberty Sirius XM (LSXMK) with an Overweight rating.
P Pandora
$0.00

(0.00%)

11/06/18
ADAM
11/06/18
DOWNGRADE
Target $9
ADAM
Hold
Pandora downgraded to Hold from Buy at Canaccord
Canaccord analyst Maria Ripps downgraded Pandora (P) to Hold from Buy following its Q3 results. The analyst noted the results showed strong subscriber additions, growth in advertising, and improved gross margins. The company is being acquired by Sirius XM (SIRI), so Ripps lowered her price target to $9 from $11 on Pandora shares to be in-line with the implied deal price given the exchange ratio with Sirius XM.
12/10/18
RHCO
12/10/18
NO CHANGE
RHCO
Hold
Yelp could be worth closer to $50 in potential buyout, says SunTrust
SunTrust analyst Matthew Thornton believes that exploring a sale is an alternative for Yelp (YELP), whether to a strategic buyer or to private equity. To the former, the analyst recalls Yelp was reportedly approached in May 2015 and hired advisors, though nothing materialized in terms of a transaction. To the latter, SQN principals come from mid-market tech private equity backgrounds, he notes. Comparing Yelp to Pandora (P) and Web.com (WEB), the analyst points out that these assets have large inside salesforces and are in the process of being acquired or have been acquired recently by a strategic and by private equity, respectively. Further, Thornton notes that Yelp trades at about 2.3 times 2019 EV/gross profit versus Pandora and WEB at about 4 times, which could potentially value Yelp closer to $50. He maintains a Hold rating on Yelp's shares.
01/02/19
JPMS
01/02/19
UPGRADE
Target $7
JPMS
Overweight
Sirius XM upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Sebastiano Petti upgraded Sirius XM Holdings (SIRI) to Overweight ahead of the Pandora Media (P) acquisition close. The analyst raised his price target for the shares to $7 from $6.
01/02/19
JPMS
01/02/19
UPGRADE
Target $7
JPMS
Overweight
JPMorgan upgrades Sirius XM to Overweight after 25% pullback
JPMorgan analyst Sebastiano Petti upgraded Sirius XM Holdings (SIRI) to Overweight from Neutral ahead of the close of the company's Pandora Media (P) acquisition. The analyst raised his price target for the shares to $7 from $6. Sirius XM shares are attractively following the 25% pullback from the 2018 highs, Petti tells investors in a research note. He looks for the company's "strong results year-to-date to persist" in Q4 and 2019 and believes the Pandora acquisition "can augment growth in new and existing segments."

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