Monday (7/25) marked the end of the period where Wall Street analysts from the firms which took Pandora Media public were prohibited from commenting on the stock. You are probably not surprised to learn that most of the analysts who began coverage on Monday have rated the stock a “buy.”
But not all. Of the six IPO underwriters whose analysts began coverage of the stock on Monday, the analysts at Stifel Nicolaus and Morgan Stanley initiated coverage with a “hold” rating on the stock.
The other four, at JPMorgan, Citi, Wells Fargo Securities and William Blair & Co., began coverage of “P” with a “buy” rating.
Value estimates from the new analysts ranged from $18 at Stifel Nicolaus to $25 at Citi. The stock closed Monday at $17.81.
RBR-TVBR observation: If you’re keeping score, there are now 11 analysts following Pandora. The vote is five “buy,” two “hold” and four “sell.” To say the least, it is quite unusual to have such divergent views of a public stock.