JPMorgan analyst Doug Anmuth raised the firm’s price target on Spotify to $320 from $280 and keeps an Overweight rating on the shares. Heading into the Q1 earnings report on April 23 the firm remains bullish on Spotify. The analyst is confident the company can deliver revenue growth acceleration, sequential margin expansion, and meaningfully higher free cash flow in 2024. Spotify entered 2024 with strong momentum across subscribers, the analyst tells investors in a research note.
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