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Pandora rising on upgrade from MKM Parterns

(Image source: target.com)

Shares of the internet radio provider Pandora Media Inc (NYSE:P) are gaining in the early session of trading after its shares were upgraded from sell to neutral by MKM Partners. The price target was raised from $10 to $39 a share. MKM cited potential for higher ad revenue from mobile and local sources. Moreover, MKM cited Pandora’s dominances within its industry as a reason for the upgrade.