Spotify price target raised to $530 from $425 at JPMorgan

JPMorgan raised the firm’s price target on Spotify (SPOT) to $530 from $425 and keeps an Overweight rating on the shares post the Q3 report. The firm came come away “incrementally positive” and expects the shares to be bolstered by Spotify’s upcoming inclusion in the MSCI World Index on November 25. The firm says Spotify remains a “Best Idea.”