Pandora podcasts: stock zooms higher after BMO note

CNBC| Thu Nov 16 07:00:09 EST 2017
Shares of Pandora jumped over 4 percent in middday trading trading Thursday after BMO Capital Markets upgraded its outlook on shares of the music streaming company. Pandora's move to grow "non-music content," such as podcasts, is a key part of the company's attempt to reverse its steady share price decline, the analyst said. Pandora's stock has fallen more than 62 percent this year through Wednesday's close, according to FactSet. "Up until now, Pandora has primarily been focused on recorded music and has offered limited forms of other content," BMO analyst Daniel Salmon wrote in a note. "Pandora now plans to expand the content available and we expect this to accelerate in 2018." Pandora repo..

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