UPDATE: Evercore ISI Assumes Spotify (SPOT) at Outperform, Added to Evercore Best 'Core' Ideas List
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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."
Shares of Spotify closed at $273.10 yesterday.
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