Arbitron recent pullback a buying opportunity, says Piper Jaffray

Piper Jaffray views the 14% pullback from Arbitron's April highs as a buying opportunity and reiterates an Overweight rating on the stock with a $47 price target. Piper thinks shares at current levels are overly discounting the lack of near-term internet radio measurement revenue. The firm expects Arbitron to land a deal with Pandora once it solidifies a digital measurement solution for its broadcast clients’ online programming.