Benchmark analyst Mark Zgutowicz lowered the firm’s price target on Spotify (SPOT) to $695 from $760 and keeps a Buy rating on the shares. While stating that Spotify’s “strategic direction still looks compelling,” the firm adds that the “burden of proof now shifts squarely” to its investor day on May 21.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SPOT: