By: Benzinga
January 29, 2013 at 11:01 AM EST
Pandora Drops After Wedbush Says Overvalued, Could Face Apple Competition
Shares of Internet radio company Pandora (NYSE: P ) slumped on Tuesday following a downgrade from analysts at Wedbush. Wedbush lowered shares from Outperform to Neutral, citing “lack of near-term profitability” and noting that shares have traded up significantly since mid-November. Wedbush writes that strong earnings from Netflix (NASDAQ:
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