Pandora Stock: Next Stop, $7.50?

Pandora Stock: Next Stop, $7.50?

There was no shortage of analysts lowering their price targets on Pandora (NYSE: P) last week following a disappointing quarterly report. With its listener base shrinking, premium subscriptions growing too slowly, and Sirius XM Radio (NASDAQ: SIRI) settling for a minority stake instead of an outright buyout, it's easy to see why so many Wall Street pros have soured on the streaming-music service. 

Analysts seem to be hovering around the low teens and pre-teens as the new normal for Pandora, but that's not always the case. Nat Schindler at BofA/Merrill lowered his price target from $9 all the way down to $7.50 last week. Schindler has been bearish on the stock -- the right call, to be fair -- and now he sees the stock continuing to move lower. 

Image source: Pandora.

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Source: Fool.com