NEW YORK, NY / ACCESSWIRE / March 30, 2017 / Wednesday was a relatively calm day for the markets the NASDAQ closed at 5,897.55, a positive change of around 0.38 percent. The Dow Jones, on the other hand, didn't manage to get into the green zone, closing in at around 20,659.32, a negative change of around 0.20 percent. The market didn't see major slumps or growths for the most part, with the most notable news coming in for Ford, which is recalling as many as 441,000 vehicles.
RDI Initiates Coverage:
Sirius XM Holdings Inc. https://ub.rdinvesting.com/news/?ticker=SIRI
Pandora Media Inc. https://ub.rdinvesting.com/news/?ticker=P
Sirius XM shares gained 0.59 percent to close at $5.14. The stock traded in a range of $5.09 to $5.14 on volume of 16.9 million shares traded. The stock is still a bit away from its 52 weeks high of $5.53. Average analyst expectations have called for a price target of around $5.25 for the company, which is below the 52-week high. Last week, Barclays analyst Kannan Venkateshwar lowered Sirius XM's rating to "equal weight" from "overweight" and also gave a price target of $4.90 a share. Shares of Sirius have gained approximately 15.5 percent year-to-date.
Access RDI's Sirius XM Research Report at: https://ub.rdinvesting.com/news/?ticker=SIRI
Pandora Media experienced a bit of a topsy-turvy day. The stock rose to around $12 during the day from its previous close of $11.70, before falling and closing in at $11.91. While the period between March 8 to March 14 saw a quick rally for the stock, it has been around the same value ever since. On March 13th, the company announced its on-demand music streaming subscription, Pandora Premium.
"Every day tens of millions of people trust us to choose the exact right songs for them. That's why they spend more time with Pandora than any other music service," said Tim Westergren, founder and CEO of Pandora. "With Premium, we're leveraging our immense trove of data and everything we've learned about personalization to offer a listening experience that sets a new standard for what a music service should be."
Access RDI's Pandora Media Research Report at: https://ub.rdinvesting.com/news/?ticker=P
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