NEW YORK, NY / ACCESSWIRE / June 15, 2018 / Shares of music streaming companies Spotify and Pandora both saw their shares pop in Thursday trading. Spotify headed higher despite getting coverage on the company initiated by Deutsche Bank with a "hold" rating and a price target lower than where shares closed yesterday. Shares of Pandora sailed higher after announcing a partnership with Snap.

RDI Initiates Coverage on:

Spotify Technology S.A.
https://rdinvesting.com/news/?ticker=SPOT

Pandora Media, Inc.
https://rdinvesting.com/news/?ticker=P

Spotify Technology S.A. shares closed up 4.26% yesterday on about 4.3 million shares traded compared to the stock's average trading volume of about 3.3 million shares. The digital music service company hit a new high of $180.02 yesterday after Deutsche Bank initiated coverage on the stock. It wasn't the most bullish note to come from analyst Lloyd Walmsley of the firm, but it was enough to get traders cheering. The analyst gave the stock a "hold" rating and wrote, "We are bullish on the music industry but struggle with the bull case on Spotify given its lack of content differentiation or visibility around long term margins." He also added, ?We do not think Spotify is Netflix 2.0." In fact he said it was "unjustified" to compare the two. He also wrote, "While Spotify needs to begin proving to investors that it can achieve its long-term margin profile, Apple/Amazon/Google can continue to invest with the hope that music streaming will drive incremental users into their respective ecosystems." Walmsley gave Spotify shares a $155 price target while the stock closed at $178.10 yesterday.

Access RDI's Spotify Technology S.A. Research Report at:
https://rdinvesting.com/news/?ticker=SPOT

Pandora Media, Inc. shares closed up 3.74% on about 14.2 million shares traded on Thursday. The gains came after the music streaming company announced a partnership with Snapchat parent Snap Inc. The company said, "Soon, Pandora listeners will be able to send their favorite songs to friends and family through unique song cards that celebrate album art on top of an animated background, and receivers will be able to swipe up to listen directly on Pandora." Pandora also wrote in its press release, "This integration will expand Pandora's social sharing capabilities by reaching Snapchat's massive audience while enhancing music discovery across both platforms." Chief Product Officer of Pandora, Chris Phillips, remarked, "This will be a powerful and comprehensive social integration with music. The Snapchat product experience and user base are primed for sharing, and our collaboration will provide a creative and compelling way to discover and enjoy music in a way that's intuitive to Snapchatters."

Access RDI's Pandora Media, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=P

Our Actionable Research on Spotify Technology S.A. (NYSE: SPOT) and Pandora Media, Inc. (NYSE: P) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com