Wells Fargo expects Spotify (SPOT) to outperform expectations on margin expansion over the next 18 months. Investors expect a price increase, but the firm thinks the follow-through will be better structural margins. Nonetheless, Wells believes Spotify will announce a price increase for the U.S. in the coming months, after Apple (AAPL) and Amazon (AMZN) announced price increases. The firm has an Overweight rating on Spotify shares with a price target of $180, and has added the name to its Q2 Tactical Ideas List.
Published first on TheFly
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