) and other digital service providers. Currently SunTrust rates Pandora as a Buy while a price target is unavailable. Robert Peck and Matthew Thornton, analysts at SunTrust wrote, "Large publishers have attempted to pull their works from ASCAP and BMI in order to force direct deals with Pandora at rates above the statutory rates determined by the courts per the consent decree. Judge Cote ruled this action to not be permissible per the consent decree and reprimanded the publishers and ASCAP...Judge Stanton interpreted the consent decree differently and ruled that publishers could not license their works to some under the statutory rate and then negotiate direct with others...Those publishers have opted back into the PROs, at least for now, but this issue remains unresolved... In isolation, the headlines appear negative for Pandora… However, there is still much process to come and it is extremely premature to draw conclusions." SunTrust believes that if this ruling is to be further discussed, there are several important items that need to be considered: 1. PROs and labels would have to operate with transparency: This would entail operating a computer readable database detailing ownerships of all works in their repertoires. 2. Publishers could have to give 6 months "notice of intention to withdraw." 3. If publishers negotiate directly with Pandora, payments into the PROs would be recalibrated to account for the value of those works withdrawn from the PRO inventories. Pandora Media closed Wednesday at $17.24.