Form 8-K Pandora Media, Inc. For: Nov 16
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FBR Sees Pandora (P) Moving to Raise Additional Capital Following Rdio Deal
November 17, 2015 7:42 AM ESTFBR & Co. reaffirms its Underperform rating and $10 price target on Pandora Media (NYSE: P) following news that Pandora would move to acquire certain Rdio assets.
Barton Crockett commented, The deal will position Pandora to be a one-stop provider of ad-based and on-demand music, assuming it can strike suitable deals with labels after the CRB decision by mid December. To us, this deal, in combination with the recent Ticketfly acquisition, punctuates a realitythis model is in a period of... More
