Raymond James raised the firm’s price target on Spotify (SPOT) to $615 from $555 and keeps an Outperform rating on the shares. Spotify’s Investor Day highlighted a stronger-than-expected AI-driven product roadmap, including new personalization and monetization features supported by proprietary user data, alongside a rights-holder-aligned AI framework through its deal with Universal Music Group (UMGNF), with mid-term financial targets appearing achievable as new premium offerings and engagement tools are expected to support growth, the analyst tells investors in a research note.
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