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Quick Take: Goldman Sings Pandora's Praises

NEW YORK ( TheStreet) -- Shares of Pandora (P - Get Report) are rallying sharply on the back of an optimistic upgrade from Goldman Sachs.

TheStreet's Debra Borchardt and Chris Ciaccia give their thoughts on the ratings change.

The firm said it sees Pandora's ad revenues going up, and with it, the stock price should follow. Goldman put a $27 price target on the stock, with $40 as a possibility if the company hits all of its targets.

A lot of bears have been down on Pandora, citing Apple's (AAPL) iRadio and Google's (GOOG) Play All-Access Music -- which Ciaccia said was a terrible name -- as "Pandora killers."

Ciaccia said at first he thought those companies were threats to Pandora, but after deeper research, he said the additional Internet radio players are compliments to Pandora.

Ciaccia added that he agrees with Goldman Sachs' bullish stance, with mobile ad companies such as Facebook (FB) and Yelp (YELP) likely doing well for the rest of 2013.

He concluded that Internet radio was a huge market and that Pandora currently sits on top.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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