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Goldman Sachs Upgrades Pandora Media To “Buy”

Shares of Pandora Media Inc. (NYSE: P) rallied in premarket trading on Friday after the online radio streaming company’s stock was upgraded to “buy” from “neutral” by Goldman Sachs’ analyst Heath Terry. In the research report, Heath Terry cited accelerating mobile and subscription revenue for the stock upgrade. The Price target on shares was lifted to $27 from $18. Terry said that the rising trend of buying online among local companies will help Pandora to better monetize its inventory.

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