Bearish
KeyBanc lowers Spotify's price target to $660, citing slower ad growth.
KeyBanc has reduced its price target for Spotify (SPOT) from $680 to $660, maintaining an Overweight rating. This adjustment reflects a revised revenue forecast, anticipating a slower expansion in the ad-supported segment. Despite this, KeyBanc's latest U.S. Audio Survey indicates that Spotify retains its leadership position, with new features like Reserved and Fitness showing user interest.
Key points
- KeyBanc lowers Spotify's price target to $660, citing slower ad growth.
- KeyBanc maintains an Overweight rating on Spotify's stock.
- Spotify's new features, including Reserved and Fitness, show user interest.
Sources
AI-generated from public news sources. Not financial advice.
