Spotify price target raised to $105 from $100 at Deutsche Bank

Deutsche Bank analyst Benjamin Black raised the firm’s price target on Spotify to $105 from $100 and keeps a Hold rating on the shares. Heading into earnings, the analyst continues to observe sustained global monthly active user strength for Spotify. In addition, SensorTower app data suggests that there could be potential upside to reported MAUs compared to the current consensus estimate of 478M, the analyst tells investors in a research note.