Albert Fried Expects Pandora Shares To ‘Shake It Off-Shake It Off,’ Reiterates $19 Target

With the launch of Apple Inc. AAPL 0.13%‘s Apple Music imminent, Albert Fried & Co. analyst Rich Tullo decided to take an in-depth look at streaming music rival Pandora Media Inc P 1.11%.

Despite Apple’s hyped-up new presence in the streaming music space, Tullo believes that Pandora still has a firm grip on the world of streaming radio.

Competition Heating Up

According to Tullo, Apple Music’s premium pricing doesn’t pose a threat to Pandora and Spotify’s IP radio services for the time being. In addition, Tullo sees Google Inc GOOG 0.3% GOOGL 0.74%’s revamped Songza as more of a threat to Spotify than Pandora, as it is track-based (the user selects the song) rather than pure-play radio.

Rate Case

Tullo believes that…

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