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Let's look at Pandora ( NYSE:P ). I last mentioned this stock
back on the weekend, June 15th, somewhere in there,
the reason that I was talking about it was they bought
a land
station
in North Dakota of all places. I don't even think it was part of the
Bakken Shale, it could have been, but I don't think so.
The reason they bought it was because it gave them better
royalty rates
to have a land-based radio station.
The stock got an analyst upgrade today to outperform,
this is from Cowen 0:00:51.280,0:00:55.199 and their price target, twelve months, was $22.00.
Well I'm looking at this chart,
I don't really see how that
analyst is not going to ultimately raise his guidance, because
over twelve months, the way this stock has come out of a base,
I don't really see how it's not going to get
to 22.00
just within this amount of time, it even has more time. So I think Pandora ( NYSE:P ),
frankly is a buy,
even right now.
Now it's up against this resistance, it wouldn't surprise me, in fact it would
surprise me if the stock did not
come up to this level around 19.00 and roll over a little bit. It's got
some work to do; it's definitely come off here.
But if you have a longer time horizon than just between now and next
Tuesday,
you go ahead and buy some of this stock right now, even though it's already
broken out a bit,
buy some stock, but keep your powder dry, because my bet is you're going to be
early and late.
In other words
you're early because the stock will probably roll over and give you a better entry at
sometime in the future; and your late
because the real time to be buying was back here when it was in consolidation,
or of course back here.
So you're late
and you're early,
but take some stock;
just be ready to buy some more if this stock pulls back. But then ultimately I
think Cowen's analyst is going to be vindicated, the stocks going to get up to
22.00.