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Spotify price target lowered to $800 from $850 at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne lowered the firm’s price target on Spotify (SPOT) to $800 from $850 and keeps an Overweight rating on the shares. About 10% ex-FX growth in Q3 “may prove a near-term trough,” with acceleration into 2026, according to the analyst, who remains confident in Spotify’s ability to drive low to mid teens revenue growth over time.

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