Citigroup Downgrades Spotify Technology to Neutral, Announces $190 Price Target
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Jason Bazinet downgraded Spotify Technology (NYSE:SPOT) from Buy to Neutral and set a price target of $190.

December 01, 2023 | 9:43 am
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Citigroup downgraded Spotify Technology to Neutral from Buy and set a price target of $190.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic outlook on the company's future performance. The new price target, while potentially lower than the current trading price, indicates the analyst's assessment of the stock's fair value, which may influence investor sentiment and stock price.
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