BofA raised the firm’s price target on Spotify to $380 from $370 and keeps a Buy rating on the shares. The firm is “confident” that Spotify’s Q2 results will be at least in line with guidance on key metrics including revenue, premium subscribers and MAUs, the analyst tells investors in a preview note. The firm raised its calendar year 2024 revenue and operating income forecasts to reflect recent price increases and also raised its 2025 and 2026 estimates, the analyst added.
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