UPDATE: Albert Fried Upgrades Pandora Media to Overweight on Revenue Acceleration Opportunity

In a report published Friday, Albert Fried upgraded its rating on Pandora Media (NYSE: P) from Market Perform to Overweight and raised its price target from $13.00 to $18.00.

Albert Fried noted, “Pandora offers a great service and has a strong revenue growth potential. However, we think great Companies do not always offer attractive returns for equity investors. In this case given the roughly 30% upside to our $18 Target we think Pandora is a great company and perhaps its shares are a good trade over the next 12 to 18 months.”

Pandora Media closed on Thursday at $11.73.

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