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Pandora Sale? Analyst Says Not So Fast

Pandora Media, Inc. NYSE:P, Apple Inc. NASDAQ:AAPL - Pandora Sale? Analyst Says Not So Fast

Late Monday night, Corvex's Keith Meister sent a letter to Pandora Media Inc P 6.11%'s board, urging the company to explore a sale. On the heels of this letter, the streaming music service jumped 6 percent to $10.59.

Near the end of Tuesday's training session, Axiom's Victor Anthony gave his thoughts regarding the hedge fund's letter.

For Pandora, Anthony said this news would be positive for the company for today. Ordinarily, this would be positive for a longer period of time, but Anthony said Pandora's situation is different. Potential acquirers such as Alphabet Inc GOOGL 1.38%, Apple Inc. AAPL 0.42%, and Amazon.com, Inc. AMZN 2.17% have their own streaming services.

He also doubts telecoms, Spotify, and Sirius XM would be interested in Pandora despite Meister's desire for Pandora to explore a sale.

DateFirmActionFromTo
Apr 2016Raymond JamesDowngradesOutperformMarket Perform
Apr 2016CitigroupInitiates Coverage onBuy
Mar 2016Mizuho SecuritiesInitiates Coverage onNeutral

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