Pandora Media Receives a Buy from FBR Capital

By Austin Angelo

In a report released today, Barton Crockett from FBR Capital reiterated a Buy rating on Pandora Media (NYSE: P), with a price target of $11. The company’s shares opened today at $8.55.

Crockett observed:

“In this note we outline three ways for P , under the incoming Liberty/Sirius leadership, to generate meaningful upside to our base case SOTP argument for an $11 stock, or to limit downside risk.”

According to, Crockett is a 4-star analyst with an average return of 6.7% and a 59.9% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Cinemark Holdings Inc, and Regal Entertainment.

Currently, the analyst consensus on Pandora Media is Moderate Buy and the average price target is $12.82, representing a 49.9% upside.

In a report issued on June 21, Gabelli also initiated coverage with a Buy rating on the stock with a $12 price target.

Based on Pandora Media’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $316 million and GAAP net loss of $132 million. In comparison, last year the company earned revenue of $297 million and had a GAAP net loss of $115 million.

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Pandora Media, Inc. provides an internet radio service in the United States, Australia and New Zealand. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers, car audio systems, and Internet-connected devices. Its also offers service through the Free Service and Pandora One models.