Spotify price target raised to $438 from $399 at Rosenblatt

Rosenblatt raised the firm’s price target on Spotify to $438 from $399 and keeps a Buy rating on the shares ahead of the Q3 report on November 12. Spotify “has a lot of good news tailwinds,” the analyst tells investors in a research note. The firm continues to like the stock longer-term, but says that with the shares up 98% year-to-date, a “near-term reset might present an opportunity.”