UPDATE: Evercore ISI Assumes Spotify (SPOT) at Outperform, Added to Evercore Best 'Core' Ideas List

Evercore ISI analyst Mark Mahaney assumes coverage on Spotify (NYSE: SPOT) with a Outperform rating and a price target of $360.00.

The analyst comments "We view the recent 20% stock price correction as a buying opportunity. SPOT’s 85-country expansion, multi-market price increase, and significant product innovations should lead to acceleration in MAUs, Subs & Revenue Growth, along with Gross Margin inflection. We are adding SPOT to Evercore ISI’s Best “Core” Ideas List."

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 $273.10 yesterday.

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