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Pandora Shares Climb on Goldman Sachs Upgrade

Goldman analysts say there's "significant potential upside" for Pandora shares.

Shares of Pandora Media (P) were higher Tuesday after analysts with Goldman Sachs raised their rating on the streaming-music company's stock to CONVICTION BUY from BUY. Goldman's confidence helped buoy the shares by about 4% as the analysts also hiked their price target to $19 from $17 a share. Goldman noted the company is facing "meaningful execution and competitive risks" in its new subscription models but there is "significant potential upside" in Pandora's premium and on-demand subscriptions." Shares of Pandora are now up about 16% over the past three months.

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