UPDATE: Susquehanna International Group Reiterates on Pandora Media on Bullish Outlook Ahead of F3Q:14 Results

In a report published Tuesday, Susquehanna International Group analyst Brian Nowak reiterated a Positive rating on Pandora Media (NYSE: P), and raised the price target from $30.00 to $36.00.

In the report, Susquehanna International Group noted, “We are bullish on P into F3Q:14 results on Thursday, November 21 and are raising our FY'14 ad ests by 1% ($6mn). We believe P is making faster-than-expected traction in the local radio markets and our audio ad load math highlights the potential for more upside.”

Pandora Media closed on Monday at $31.56.