Spotify price target raised to $130 from $110 at Loop Capital

Loop Capital analyst Alan Gould raised the firm’s price target on Spotify to $130 from $110 but keeps a Hold rating on the shares. The company’s Q1 results were "solid" with a beat on all metrics except revenue and Q2 subscriber and user net additions guide coming in ahead of consensus expectations, the analyst tells investors in a research note. Loop adds that it continues to expect a price increase in the U.S. when Spotify can come to satisfactory terms with the music labels.