Guggenheim raised the firm’s price target on Spotify (SPOT) to $850 from $800 and keeps a Buy rating on the shares after Spotify announced price increases in several markets last week. The firm, which continues to expect another round of price increases to be announced in Spotify’s largest markets, including the U.S., before year-end, cites upward long-term revisions to its revenue and profit estimates for its raised target.
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