Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Pandora Media: Color on quarter (12.62)<ul><li><strong>Aegis Capital</strong> — Aegis states the premium on-demand product has been launched to industry participants & should be rolled out beginning in Mar. Aegis believes that the market for paid online streaming will continue to expand & Pandora will be one of the primary beneficiaries when they launch the on-demand service. Aegis sees an increasing willingness for users to pay $120/year to stream music, even among millennials. Aegis continues to believe that an acquisition remains part of the bull case on the stock; Buy the stock for success of the on-demand launch, core ad monetization, & potential acquisition; maintains Buy.</li><li><strong>FBR</strong> — FBR states after a 4Q16 that was broadly consistent with preannounced upside & came coupled with a minor 1Q17 guidance air pocket, followed by guidance reacceleration in 2H17, Pandora stands at a crossroads. The co is on pace over the next month to have a full rollout of its big bet on entering on-demand. Crucial for the stock will be the early consumer reaction of whether Pandora has built something that is differentiated and appealing relative to a growing list of alternatives.</li><li><strong>Needham</strong> — Needham states that assuming execution, the economics of Pandora's stated strategy for 2017 are powerful. P's core biz of 80 mlm ad-driven listeners generates about $14 of rev per listener per year. P will try to shift these to either: a) $60/year from the $5/month existing Plus subscription service; or b) $120/year from the $10/month new Premium subscription service. P will launch its $10/month service in late 1Q17 and is targeting 6-9mm total subscribers by 12/31/17, up from 4.4 mln subs at 12/31/16. If P only converts its $5/month subs into $10/month subs, this would double their profit contribution to $42 each. Needham notes the multiplier is higher if ad listeners buy the $10/month service.</li><li><strong>Wedbush</strong> — Wedbush expects losses through most of 2017 as Pandora invests in on-demand music and transitions to a 3-tiered subscription model. In addition to its new live events venture, its on-demand service and increasing ad pricing are Pandora's strategic priorities. Wedbush states that Pandora can convert at least 1 mln Pandora Plus subscribers to on-demand and can attract 1-2 mln net new U.S. on-demand subscribers in 2017, while up-selling ad-supported customers to its Pandora Plus service. They expect international expansion in 2018.</li><li><strong>Mizuho</strong> — Mizuho states they were surprised that Pandora did not provide EBITDA guidance for 2017. The co plans to invest in marketing ahead of the Mar launch of the Premium product. Mizuho discusses they believe that marketing spend could continue beyond 1Q. Furthermore, without experiencing the P Premium, Mizuho states they can't have an informed opinion on how it will do. While Mizuho likes the long-term opportunity of subscription & the potential for significantly greater EBITDA dollars driving higher cash flows, proof will be in execution over the next few quarters. Mizuho states they think Pandora's stock will trade side-to-side until there is better clarity on EBITDA profitability.</li><li><strong>RBC</strong> — RBC states Pandora posted a solid Q4 result, with Q1 guidance below expectations and 2017 guidance bracketing the Street on the top-line. The key for P will be the Mar launch of its new Pandora Premium (on-demand) product; maintains Sector Perform & raised price target to $16.00/share from $14.00/share.</li></ul><p> — Shares of <strong>P</strong> +0.2% pre-market.</p></td> </tr></table>"