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Fly News Breaks for March 12, 2015
P
Mar 12, 2015 | 07:45 EDT
MKM Partners is incrementally more bullish on Pandora following last week's analyst day. The firm sees many paths to listener and audience growth and value to music makers, which is not well understood by investors. MKM expects the CRB will remain a focus until a decision is reached, likely in December, but believes a disruptive outcome to either side is unlikely. The firm recommends building positions ahead of the summer timeframe where the CRB will likely be a discussion among investors. Shares are Buy rated with a $23 price target.
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