Susquehanna Downgrades Pandora (P) to Neutral

Susquehanna downgraded Pandora (NYSE: P) from Positive to Neutral with a price target of $21.00 (from $29.00).

Analyst Brian Nowak said, "We are downgrading Pandora from Positive to Neutral and lowering our price target to $21 from $29. 3Q top-line results and forward guidance were fine. The trouble is, we believe growing user growth concerns and ongoing content cost question marks are likely to keep Pandora range-bound in the low $20's/share over the next 12 months."

For an analyst ratings summary and ratings history on Pandora click here. For more ratings news on Pandora click here.

Shares of Pandora closed at $23.12 yesterday.

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