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Spotify price target raised to $840 from $700 at Benchmark

Benchmark analyst Mark Zgutowicz raised the firm’s price target on Spotify (SPOT) to $840 from $700 and keeps a Buy rating on the shares as part of a Q2 preview. The firm sees several potential catalysts for the company over the next 12 months including a podcast gross margin inflection and new “Supremium” subscription tier.

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