Morgan Stanley Upgrades Pandora (P) Amid Sharp Sell-Off Since IPO

Amid a 50 percent decline from the July high, an analyst at Morgan Stanley upgraded shares of Pandora (NYSE: P) Friday morning. The firm now rates the stock an Overweight, up from Equalweight previously. The analyst's price target was reduced slightly from $19 to $16.

The bullish call comes in contrast to a recent note from an analyst who has gotten it right since Pandora's IPO. BTIG's Richard Greenfield slashed his price target on Pandora shares from $10 to $3.75 on Wednesday of this week.

Shares of Pandora are up 2.8 percent to around $10.33 in pre-market action. Morgan Stanley's new price target implies potential upside of about 55 percent form where the stock is currently trading.

For more ratings news on Pandora click here and for the rating history of Pandora click here.

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