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Fly News Breaks for May 21, 2015
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May 21, 2015 | 06:29 EDT
Piper Jaffray recommends getting long shares of Pandora in advance of the final Copyright Royalty Board rate determination, which is expected sometime before December. Piper thinks the CRB decision will provide certainty for content costs, allowing investors to focus on other progress at the company. The firm views Pandora's acquisition of Next Big Sound as an indication the company is improving its data offering. Piper keeps an Overweight rating on Pandora with a $23 price target.
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