Wells Fargo raised the firm’s price target on Spotify (SPOT) to $750 from $740 and keeps an Overweight rating on the shares. While stating that this is “not an easy quarter to get bullish” on Spotify with estimates coming down and “nothing particularly incremental to get excited about,” the firm argues that “this is the pullback for those that believe in” the company’s pricing power and bigger margin expansion setup into 2026, as the firm does.
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