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Pandora shares slip after Morgan Stanley downgrades stock

Posted by Chenyifa18 
Pandora shares slip after Morgan Stanley downgrades stock
January 11, 2018 08:43AM
Shares of pandora disney collana fell 6.2 percent Monday after Morgan Stanley downgraded the stock and raised concern about the company's revenue growth for 2018.

"Growing ad revenue in '18 is no longer a given as shamballcollana vivienne westwood faces engagement and monetization challenges," said analyst Benjamin Swinburne, who lowered his rating on the streaming service to equal weight from overweight.

"We thought vivienne westwood could potentially reach 10% advertising growth in '18," he said in a Monday note. "However, we now expect 2017 to show a nearly 15% decline in listening hours, an over 5% decline in ad supported monthly active users, and slower growth in advertising ARPU. This leads us to lower our outlook for '18 ad growth, now forecasting flat to up modestly."

Swinburne added that a deceleration of ad revenue growth "meaningfully reduces the vivienne westwood gioielli milano ability to drive any operating leverage."

Pandora shares were up more than 7 percent a week into the new year, but shed more than 60 percent in 2017.
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