NEW YORK (TheStreet) -- Pandora Media (P) shares are climbing, up 2.2% to $28.81, on Tuesday following a positive report from analysts at Canaccord Genuity (CCORF).
The firm believes that local audio ad revenue is set to grow by 167% this year and 68% next year.
"We believe business momentum is strong. Given the stability of Pandora's model, we do not expect dramatic revenue upside (or downside) in any given period. However, we continue to believe Pandora is early in attacking a large opportunity," said analysts.
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TheStreet Ratings team rates PANDORA MEDIA INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PANDORA MEDIA INC (P) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been generally deteriorating net income."