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Fly News Breaks for September 29, 2015
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Sep 29, 2015 | 07:13 EDT
Stifel raised its price target on Pandora after its licensing deal with Merlin was declared fully admissible as evidence for its current music royalties case. The firm sees the decision as a major positive for Pandora, and it thinks the company is in a better position than in any prior royalties case. Stifel expects the judges to find that Pandora's royalties should be in line with the amount it currently pays for free listeners. It keeps a Buy rating on the shares.
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