Spotify price target raised to $145 from $131 at Barclays

Barclays analyst Mario Lu raised the firm’s price target on Spotify to $145 from $131 and keeps an Overweight rating on the shares. The company’s Q4 results beat expectations across nearly every metric and the Q1 outlook continues the meaningful improvement expected in fiscal 2023, the analyst tells investors in a research note. The firm believes Spotify’s shift from growing at all costs to a combination of speed and efficiency will be largely applauded by investors.