- The shares of Spotify (SPOT) recently received a $140 price target from Morgan Stanley. These are the details.
The shares of Spotify (SPOT) Recently received a $140 price target from Morgan Stanley. And Morgan Stanley analyst Benjamin Swinburne is maintaining an “Overweight” rating on the shares.
Swinburne adjusted the rating while noting that the stock has been a notable under-performer year-to-date even though global growth in streaming music has remained robust. Plus Swinburne is forecasting accelerating growth in key financial metrics for Warner Music and Spotify in 2023.
Going forward, Swinburne continues to forecast double-digit streaming music industry revenue growth for years to come, even in a slowing economy.