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P: Upgrade Lifts Pandora Stock

Its shares have fallen sharply since March


Shares of internet-radio provider Pandora (P) climbed more than 3% in Monday morning trading after P stock was upgraded by an investment firm.

PandoraMKM Partners raised its rating for P stock from “Neutral” to “Buy.” MKM had a “Sell” rating on P stock until March, when it moved P stock to a “Neutral” rating, Seeking Alpha notes.

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In boosting its rating for P stock, MKM cited Pandora’s ability to retain listeners despite rising competition and rising ad sales.

P stock has slumped since March.

On Friday, Pandora stock closed at $22.62 per share.

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