Spotify price target raised to $154 from $132 at Truist

Truist analyst Matthew Thornton raised the firm’s price target on Spotify to $154 from $132 and keeps a Buy rating on the shares ahead of the company’s Q1 results. Despite the rally to start the year, the stock can continue to work while the service is at a discount to peers, the analyst tells investors in a research note. The firm sees the prospect of Spotify taking price later this year "all while the company is highly focused on margins."