Jefferies Starts Spotify (SPOT) at Buy

April 22, 2021 4:08 PM EDT
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Price: $253.64 +3.27%

Rating Summary:
    20 Buy, 16 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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(Updated - April 22, 2021 4:25 PM EDT)

Jefferies analyst Andy Uerkwitz initiates coverage on Spotify (NYSE: SPOT) with a Buy rating and a price target of $360.00.

The analyst commented, "We are initiating Buy on Spotify with a simple premise. Spotify is more platform than streaming service. The subtle differences are platforms have stickier customers, less likely to be disintermediated by new technologies, and longer tail of growth/margin expansion. We believe we are in the early innings of a creator economy where content creation/distribution/marketing has been democratized, in which Spotify will become the primary audio platform for creators."

For an analyst ratings summary and ratings history on Spotify click here. For more ratings news on Spotify click here.

Shares of Spotify closed at $261.71 yesterday.

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