Morgan Stanley named Spotify (SPOT) the firm’s top pick in media and entertainment. It keeps an Overweight rating on the shares with an $800 price target implying 20% upside. Spotify is undertaking a new pricing cycle this fall after adding “significant value” to its free and premium tiers, the analyst tells investors in a research note. Morgan Stanley believes this will accelerate the company’s growth into next year. Artificial intelligence provides an additional tailwind for Spotify, adds the firm.
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