JPMorgan raised the firm’s price target on Spotify (SPOT) to $805 from $740 and keeps an Overweight rating on the shares. The firm updated the company’s model to account for the recent international price increases. A U.S. price increase could come by year-end or early 2026, and this would drive further upside to JPMorgan’s model, the analyst tells investors in a research note. The firm currently projects Spotify’s 2026 total revenue growth of 14% year-over-year. The company’s recent music deal agreements are likely push it closer to the launch of the anticipated Superfan Tier, contends JPMorgan.
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