Stifel Nicolaus Initiates Coverage on Spotify (SPOT)

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Spotify (NASDAQ:SPOT) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $180.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 21.69% from the company’s current price.

A number of other brokerages also recently issued reports on SPOT. Gabelli assumed coverage on Spotify in a research report on Tuesday. They set a “hold” rating and a $130.00 price target on the stock. Guggenheim assumed coverage on Spotify in a research report on Tuesday. They set a “buy” rating and a $175.00 price target on the stock. Royal Bank of Canada initiated coverage on Spotify in a research report on Thursday, March 29th. They set an “outperform” rating and a $220.00 price target on the stock. MKM Partners initiated coverage on shares of Spotify in a report on Thursday, March 29th. They set a “buy” rating and a $200.00 price objective on the stock. Finally, Atlantic Securities initiated coverage on shares of Spotify in a report on Wednesday, March 28th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Spotify has a consensus rating of “Buy” and an average target price of $184.17.

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Shares of SPOT stock opened at $147.92 on Thursday. Spotify has a 12-month low of $135.51 and a 12-month high of $169.00.

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About Spotify

Spotify Technology SA is an innovative digital music service offering music fans instant access to a world of music. The company enables on-demand streaming of audio content and aim to combat music piracy by offering a user experience, while monetizing licensed content with both an ad-supported, free-to-the-user model and a premium, paid model.

Analyst Recommendations for Spotify (NASDAQ:SPOT)

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