Pandora (NYSE:P): Bank of America Merrill Lynch says that Pandora’s growth is just starting and notes international opportunities and car share growth. The firm also pointed out the lack of differentiation from Apple’s iTunes Radio offering. The shares are Buy rated, and the price target has been raised to $30 from $27.
Tesla Motors (NASDAQ:TSLA): Bank of America Merrill Lynch notes that Tesla’s institutional ownership has fallen to about 66 percent currently from 84 percent in January. The analyst says that retail investors have had an increasing hand in driving shares higher and will be at risk of a correction. The firm says that the Gen 3 vehicle would have to be one of the best-selling vehicles in the world to drive 2020 volumes implied by the current share price. The analyst continues to see substantial downside risk and reiterates its Underperform rating and $45 price target.
Isis Pharmaceuticals (NASDAQ:ISIS): BMO Capital increased its price target on Isis to $43 from $31 after the company reported data that indicated its ISIS-APOC3-Rx drug lowered triglyceride levels in patients with familial chylomicronemia syndrome. The firm thinks the data show the drug addresses a significant unmet need, and that this could help it reach the market more quickly. It keeps an Outperform rating on the stock.
FedEx (NYSE:FDX): Stifel downgraded FedEx to Hold from Buy based on valuation and its belief that the stock could be range-bound over the next few quarters.
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