KeyBanc raised the firm’s price target on Spotify to $350 from $300 and keeps an Overweight rating on the shares. Spotify is raising price in select markets, which KeyBanc believes increases visibility on mid-to-high-teens revenue growth and margin expansion through 2026, the analyst tells investors in a research note. The firm thinks 2024 Street operating income needs to come down to reflect social charges, but the firm says this is a near-term, non-cash dynamic that does not change its thesis.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPOT:
- Jefferies European midcaps analysts hold an analyst/industry conference call
- Spotify price target raised to $335 from $270 at Barclays
- Spotify rolls out AI Playlist beta for Premium users in U.K., Australia
- Spotify price target raised to $320 from $280 at JPMorgan
- Apple Stock (NASDAQ:APPL) News: Here’s What Investors Need to Know