Spotify price target raised to $165 from $155 at Guggenheim

Guggenheim analyst Michael Morris raised the firm’s price target on Spotify to $165 from $155 and keeps a Buy rating on the shares after the company reported "strong" Q1 results and gave Q2 guidance in-line to ahead of the firm’s expectations. Spotify didn’t offer an explicit outlook for raising price, though management noted that they are currently negotiating with partners and "hope" to raise price in 2023, the firm noted.