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Fly News Breaks for October 8, 2015
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Oct 8, 2015 | 09:03 EDT
After Pandora agreed to buy Ticketfly, PAcific Crest says that the deal will probably "expand Pandora's monetization opportunity, improve its relationship with artists, and improve its consumer value proposition." The firm says that the price of the deal appears to be high, but it thinks that the strategic rationale is "sound," and could offset the high price if Pandora executes well. The firm keeps a $22 price target and Overweight rating on the shares.
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