Analysts Are Mixed On Pandora's Stock
July 26, 2011 at 6:02 AM (PT)
With the passing YESTERDAY (7/25) of the period where analysts from MORGAN STANLEY, J.P. MORGAN and CITIGROUP could comment on the PANDORA stock they helped take public, comes mixed word on what investors should do.
THE WALL STREET JOURNAL reports, "J.P. MORGAN TODAY slapped an 'overweight' (code for 'Buy') rating on the Internet-radio service with a $22 price target. CITIGROUP wrote advertising dollars should 'follow eardrums' and so should investors, and set a $25 price target for PANDORA shares. CITIGROUP acknowledges it is tough to value PANDORA 'as we don’t see the company generating profits until C2014.'"
MORGAN STANLEY, however, disagrees, writing that "PANDORA is a 'best in class' service but is worried the company won’t be profitable anytime soon, will have a tough time fighting off competition and may not have success internationally."
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