Pandora Media Inc. (NYSE:P): JPMorgan raised its price target for Pandora shares to $35 from $25 ahead of the company’s third-quarter results on Thursday and reiterates an Overweight rating on the name; the firm believes Pandora is approaching an inflection point in monetization given its growing market share and expanding salesforce. Stock of the online radio service closed up 22 cents yesterday to $29.47.
Nordstrom Inc. (NYSE:JWN): Jefferies says Nordstrom’s (NYSE:JWN) comments regarding early strength in cold-weather categories is a positive for Deckers Outdoor Corp. (NASDAQ:DECK); the firm believes the comments support its channel checks, which indicate robust demand for Deckers’s UGG brand. Jefferies reiterates a Buy rating on Deckers and keeps a $100 price target on the shares.
Applied Materials Inc. (NASDAQ:AMAT): Citigroup recommends buying shares of Applied Materials after the company issued January-quarter earnings guidance below consensus; the firm believes Applied Material’s core semi business is poised to strengthen into 2014 and thinks that the Tokyo Electron merger will be a catalyst for the shares into mid-2014; the analyst raised its price target for the stock to $20 from $19 and keeps a Buy rating on the name.
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA): JMP Securities increased its price target on Vanda to $23 from $19 after a Food and Drug Administration advisory committee voted decidedly in favor of recommending the approval of its Hetlioz drug for the treatment of N24HD;. The firm expects the drug will be approved by the end of next January, and it reiterates an Outperform rating on Vanda stock.
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