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Fly News Breaks for August 19, 2016
P
Aug 19, 2016 | 11:16 EDT
Piper Jaffray analyst Stan Meyers reiterates his bullish stance on Pandora Media after the Wall Street Journal reported that the company will likely launch its new OnDemand service in September, ahead of its year-end deadline. The analyst continues to expect the new on-demand platform to add an incremental 9.2M subscribers, $750M in revenue and $120M in EBITDA by 2019. He reiterates an Overweight rating on the shares with an $18 price target.
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