Spotify price target raised to $210 from $185 at Macquarie

Macquarie analyst Tim Nollen raised the firm’s price target on Spotify to $210 from $185 and keeps an Outperform rating on the shares. The analyst cites an improved profitability setup into 2024 and strong sales growth for the post-earnings target raise. Spotify added 21M monthly active users and 6M premium subscribers in Q3, ahead of its guide, the analyst tells investors in a research note.