NEW YORK (TheStreet) -- Love for Pandora (P) has SiriusXM (SIRI) investors feeling amorous on Friday, after the former exploded 7.5% to $31.68. The Internet radio streaming service was pushed higher after JPMorgan voiced its support for Pandora, reiterating an "overweight" rating and raising its price target to $35 from $25.
Sirius, meanwhile, gained 3.3% to $3.86, sharing increased investor appetite in the Internet radio space.
Possibly influencing share movements was JPMorgan's prediction that Pandora's advertising revenue growth would accelerate 51% year over year in 2014. If more advertisers are seeing the value in Internet radio slots, Sirius will likely see spillover.
Additionally, Apple's (AAPL) iTunes Radio has failed as an industry-killer so far, something analyst Doug Anmuth applauds Pandora for preventing.
"We believe that October metrics -- which represented the first full month since Apple's release of iTunes Radio -- indicated that Pandora held up well during the launch," he said in the report.
TheStreet Ratings team rates Sirius XM Radio Inc as a Buy with a ratings score of B. The team has this to say about its recommendation:
"We rate Sirius XM Radio Inc (SIRI) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."