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Fly News Breaks for November 6, 2018
SIRI, P
Nov 6, 2018 | 08:31 EDT
Canaccord analyst Maria Ripps downgraded Pandora (P) to Hold from Buy following its Q3 results. The analyst noted the results showed strong subscriber additions, growth in advertising, and improved gross margins. The company is being acquired by Sirius XM (SIRI), so Ripps lowered her price target to $9 from $11 on Pandora shares to be in-line with the implied deal price given the exchange ratio with Sirius XM.
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