Bullish Analyst Raises Pandora Stock

Taking Stock

The price of PANDORA MEDIA stock increased when after STIFEL NICOLAUS analyst JORDAN ROHAN raised his rating for PANDORA from "Hold" to "Buy," with an $18 price target, the AP reports. The announcement raised PANDORA's stock price 88 cents, or 6.3%, to $14.78 in heavy trading.

ROHAN noted that PANDORA has evolved into a "must-have" application for tablets and smartphones and is building a sales force to boost its money-making efforts. With an audience he believes is bigger than that of a traditional radio station, ROHAN predicts earnings of 1 cent per share on revenue of $86.5 million in Q4. That goes against the grain of analysts polled by FACTSET, who predicted a loss of 2 cents per share on revenue of $83 million.

STIFEL NICOLAUS also increased its annual earnings expectations through 2013 because of expectations for more money from mobile ads.

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