Benchmark analyst Mark Zgutowicz lowered the firm’s price target on Spotify (SPOT) to $760 from $860 and keeps a Buy rating on the shares. With shares about 32% below the 52-week high despite multiple upcoming catalysts, the firm sees the multiple re-rating as Spotify delivers better-than-expected incremental margin flow-through, the analyst tells investors, noting that Spotify is a 2026 Best Idea.
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