RSS
Twitter
Facebook
Online audio streaming provider Pandora has strong prospects for growth going forward, according to two brokerages that have given the company positive ratings.
JP Morgan and Wells Fargo Securities, both of which started covering the company this week, rated stock prospects in the company “overweight” and “outperform” respectively.
“Pandora is well positioned to take share of the US online display, mobile and radio advertising markets,” J.P. Morgan Securities’ Doug Anmuth wrote in a note reported by Reuters.
“(Pandora’s) ability to monetize mobile hours will improve over the next few years and drop down to the bottom line.”
The ratings are good news for the company that has struggled on the market since its IPO, with its share price trading constantly below its float price.
Pandora Media stock closed down 0.81% (11c) to $13.52 at the close of trading Friday.
