Jefferies is bullish on streaming stocks

Spotify has upside to consensus due to higher margin verticals - Wolfe Research

Wolfe Research initiated coverage of Spotify (NYSE: SPOT) with an Outperform rating and a $390 price target in a note Friday, with the new target representing a potential 28% upside.

Wolfe analysts believe Spotify is undervalued, trading at 26x CY25E P/FCF, despite its significant exposure to the faster-growing streaming market compared to Universal Music Group (UMG).

The firm notes that Spotify, holding approximately one-third of the global music... More

Midday movers: Nvidia and Apple fall as investors flee megacap tech

(Updated - July 11, 2024 11:49 AM EDT)

Investing.com -- U.S. stock futures declined Thursday despite the release of key inflation data that surprised to the downside, bolstering hopes the Fed will cut interest rates in September. Following the data investors flocked into small cap stocks, spurning heavily weighted megacap names like NVIDIA (NASDAQ: NVDA) and Apple (NASDAQ: AAPL), triggering a decline in major averages.

Here are some of the biggest U.S. stock movers... More

Spotify (SPOT) PT Raised to $400 at UBS

(Updated - July 11, 2024 7:46 AM EDT)

UBS analyst Batya Levi raised the price target on Spotify (NYSE: SPOT) to $400.00 (from $375.00) while maintaining a Buy rating.

The analyst commented: "We remain constructive onSPOT shares and continue to see upside to street estimates as... More

Jefferies Assumes Spotify (SPOT) at Buy

Jefferies analyst James Heaney assumes coverage on Spotify (NYSE: SPOT) with a Buy rating and a price target of $385.00 (from $242.00).

The analyst comments: "We are increasingly confident in SPOT's ability to comfortably deliver sustainable 15%+ rev growth over the next 3 years. Underscoring our... More

KeyBanc raises price targets on Spotify, Netflix shares

KeyBanc analysts are bullish on streaming giants Netflix (NASDAQ: NFLX) and Spotify (NYSE: SPOT), raising their price targets for both companies in separate notes Wednesday.

For Netflix, KeyBanc expects a strong second-quarter earnings report, citing a "strong... More

Redburn cuts WMG, Spotify stock ratings to Sell; shares down

Redburn Atlantic has downgraded Warner Music Group (NASDAQ: WMG) and Spotify (NYSE: SPOT) shares to Sell, citing structural challenges and valuation concerns.

For WMG, Redburn highlights the discrepancies between their streaming growth projections and consensus forecasts.

Despite factoring in announced cost savings, their adjusted OIBDA (Operating Income Before Depreciation and Amortization) forecasts... More

Redburn-Atlantic Downgrades Spotify (SPOT) to Sell

Redburn-Atlantic analyst Agnieszka Pustula downgraded Spotify (NYSE: SPOT) from Neutral to Sell with a price target of $230.00.

The analyst comments: "Our analysis suggests that consensus is overestimating the potential of price-led growth which, alongside maturing streaming penetration in western markets, pose a significant... More

Spotify (SPOT) PT Raised to $410 at KeyBanc

(Updated - July 10, 2024 7:53 AM EDT)

KeyBanc analyst Justin Patterson raised the price target on Spotify (NYSE: SPOT) to $410.00 (from $400.00) while maintaining a Overweight rating.

The analyst commented, "Given recent pricing changes, we believe consensus may be too... More