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Fly News Breaks for January 7, 2016
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Jan 7, 2016 | 09:16 EDT
Stifel analyst John Egbert views the recent pullback in shares of Pandora Media as overdone. The CRB ruling removed the company's biggest risk overhang, namely an unmanageable increases in content costs, Egbert tells investors in a research note. He cut his price target for the shares to $22 from $27 to reflect higher costs in 2016 but keeps a Buy rating on the name.
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