UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on Pandora Media Following Solid 1Q14 Report

In a report published Friday, Credit Suisse analyst Stephen Ju reiterated a Neutral rating on

, and raised the price target from $30.00 to $32.00. In the report, Credit Suisse noted, “Pandora reported 1Q14 with revenue at $194.3mm above guidance for the period $170-176mm. Non-GAAP EPS was $(0.13), also above guidance of $(0.16)-$(0.14) for the period. We maintain our Neutral rating and increase our target price to $32. FY15 Non-GAAP EPS is now $0.52.” Pandora Media closed on Friday at $28.20.