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Fly News Breaks for July 22, 2015
P
Jul 22, 2015 | 08:08 EDT
Oppenheimer believes that Pandora's (P) stock is now discounting increased competition from Apple (AAPL) and a negative outcome to the company's dispute over royalties. The firm thinks the stock suggests that the company will have to pay 35%-40% royalty rates, while Oppenheimer predicts that the rates will be 25%-30%. It keeps a $25 price target and Outperform rating on the shares.
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