UPDATE: Albert Fried Upgrades Pandora to Overweight on Share Pullback

Albert Fried raises its rating on Pandora
from Market Perform to Overweight and reiterates its $13 price target on shares. Albert Fried notes, "When we launched coverage on Pandora shares on July 11, 2011 we had concerns about Cor 11, 2011 we had concerns about Corpora rr we had concerns about valuation, we had concerns about the ability to grow FCF over time and we had concerns about well funded revenue generating competition well funded revenue generating competition which in which included iHeart (CCU, NC) and Spotify (Priva cluded iHeart (CCU, NC) and Spotify (Private). te). Since our launch with an Underweight rating (since upgraded) P shares declined roughly 49% as compared to a less than 1% change for the S&P 500. We now think our prior concerns are discounted in Pandora's share price." P closed at $9.90 on Wednesday.

Posted In: albert friedAnalyst ColorUpgradesPrice TargetIntraday UpdateAnalyst Ratings

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.