Internet radio company Pandora Media (P) is expected to pay less for content in future years and see higher ad revenue, Cowen & Co. said in a note. Cowen boosted its target for Pandora's stock to 29 from 23, with an outperform rating. Pandora competes with Apple's (AAPL) iTunes Radio, which debuted in Sept. and quickly gained 11 mil listeners. Pandora pays more per track, but Apple's negotiations with music labels may cut costs for Pandora too, Cowen said. Pandora edged up 0.4%. Apple rose 0.6%.
