Spotify price target lowered to $131 from $135 at Barclays

Barclays analyst Mario Lu lowered the firm’s price target on Spotify to $131 from $135 and keeps an Overweight rating on the shares. The analyst previewed Q4 earnings for the SMID cap internet sector and views subscription names such as the stocks best positioned to continue their outperformance. Across the three sub-sectors of video games, online travel, and subscription, video games is the most attractive due to the condensed window driven by the pending Activision/Microsoft deal "that could lift all boats if it were to go through," the analyst tells investors in a research note.