Pandora (P) Tops Q2 EPS by 8c; Guides FY16 Revenue Below Views
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Pacific Crest Cuts Pandora (P) to 'Underperform' on 'Deteriorated Core Economics'
July 22, 2016 6:47 AM EDTPacific Crest downgraded Pandora (NYSE: P) from Sector Weight to Underperform. The change follows the release of Q2 results. Analyst Andy Hargreaves noted "deteriorated core economics."
"Pandora's core operating leverage has deteriorated and we see little prospect for meaningful profits in on-demand. While M&A is possible, we do not view it as likely at the current valuation. We do... More
