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Fly News Breaks for June 9, 2016
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Jun 9, 2016 | 07:41 EDT
As previously reported, Axiom upgraded Pandora to Buy from Hold and established a $16 price target. The firm's analyst now believes that there is a greater probability of Pandora building a successful and differentiated on-demand service while increasing the value of the core. Axiom believes demand for paying for music streaming is increasing and Pandora is poised to capture share. Further, Pandora's multi-pronged model reduces the risk of dependency on the core business to drive shareholder value, the firm said.
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