KeyBanc Reiterates Overweight Rating on Spotify (SPOT)

KeyBanc analyst Justin Patterson reiterated an Overweight rating and $680.00 price target on Spotify (NYSE: SPOT).

The analyst commented: "The Sound of AI Music Reinforces Spotify's Distribution & Data Edge; As Suno's new model launches shift focus back to AI music, we revisit Spotify's drivers. In our view, distribution and personalization remain key advantages that create a natural launch point for add-on services. We estimate AI music could drive a 2% ARPU lift in the first 12-18 months, with potentially faster growth if superfan adoption takes off. Bigger picture, we view product innovation as driving a ~15% revenue growth and ~30% EPS growth profile over the mediumterm. We maintain our OW rating/$680 PT (4.4x 2028E EV/S)."

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 $523.00 yesterday.

You May Also Be Interested In

• Softbank Said To Weigh Buying Largest Us Security Firm Allied - Bloomberg
• ATII shareholders approve merger with Forge Nano, listing as NANO on Nasdaq
• Travelers (TRV) PT Raised to $395 at Citi