Bullish
Spotify's stock rises 5% after Bank of America reaffirms 'Buy' rating and $685 price target.
Spotify's stock surged by 5% following Bank of America's reaffirmation of a 'Buy' rating and a $685 price target, citing the company's resilience against AI disruptions. Additionally, Spotify announced plans to expand its audiobook service to over 180 markets by the end of 2026, aiming to reach approximately 350,000 titles in more than 120 languages.
Key points
- Bank of America maintains 'Buy' rating with $685 price target, citing Spotify's resilience against AI disruptions.
- Spotify announces expansion of audiobook service to over 180 markets by end of 2026.
- UBS lowers price target to $675 from $690, maintains 'Buy' rating, citing potential AI-powered tools.
- Analysts express concerns over Spotify's valuation and competitive pressures.
Sources
- Spotify Stock (SPOT) Jumps as BofA Says the Streaming Giant Is ‘Muse-Proof’TipRanks · October 7, 2026
- Spotify expands audiobooks to over 180 marketsTechCrunch · October 7, 2026
- Spotify stock rebounds in after-hours as SPOT traders brace for holiday-thinned marketsTS2 Tech · February 13, 2026
- Spotify Stock Draws Bullish Targets As AI, Content Bets BuildStocksToTrade · October 7, 2026
AI-generated from public news sources. Not financial advice.
