If you don’t think investors are salivating over SiriusXM’s planned merger acquisition of Pandora Media, think again.
Pandora shares twice in September surged past $9.50 a share, and in early after-hours trading on Wednesday all signs indicate that the streaming audio company is on its way to match or beat those year-to-date peaks.
After closing with a 25-cent gain to $8.50, Pandora as of 4:26pm Eastern was up an additional 11 cents, to $8.61.
That’s the third-highest trading price for “P” seen in 2018, and marks a substantial improvement from the February 19 closing price of $4.31.
Still, Pandora shares haven’t closed above $10 a share in 18 months, and in February 2014 were priced at more than $37 a share.
Pandora’s current 1-year target estimate is $9.48. It could very well be achievable, based on SiriusXM’s move.
Finally a positive, sensible viewpoint about the Sirius/Pandora unification, and the potential that exists once these two companies unite. People can go right ahead and dismiss what is going on here with this situation, but my intuition tells me that this pairing could turn out to be a blockbuster move for SiriusXM. I enjoyed your take on the matter, and I believe that your opinion about the potential is absolutely correct, and destined to unfold, in time, just as you surmise!
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