U.S. Markets close in 2 hrs 14 mins

Pandora pullback a buying opportunity, says Needham

Needham attributes the 14% pullback since Monday in shares of Pandora (P) to slowing listener hour growth and anticipated streaming competition from Apple (AAPL). The firm believes Pandora is purposely slowing listener hour growth to maximize profitability and recommends using the sell-off as a buying opportunity. Needham keeps a Buy rating on the name with a $20 price target.