Spotify (SPOT) India STreaming Market Could Hit $976 Million by 2025 - Nomura
Nomura/Instinet analyst Mark Kelley maintains Buy on Spotify (NYSE: SPOT) price target of $190.00.
The analyst comments "News reports suggest Spotify will launch in India in 2019: The company is expected to launch within the next six months and offer an extended free trial period in India as it seeks to gain market share. Expect India streaming market to reach $976mn by 2025: We estimate the premium opportunity will reach $656mn and the advertising opportunity will reach $320mn."
Shares of Spotify closed at $118.67 yesterday.