Arete upgraded Spotify (SPOT) to Buy from Neutral with a $586 price target The stock is down 40% from peak levels on concerns around the impact of AI on music and how often Spotify can raise prices, the analyst tells investors in a research note. Arete sees the company’s Premium gross margins getting better and views Spotify’s AI disruption risk as minimal. The firm expects an 18 month cadence of “modest” price hikes from the company.
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