Rosenblatt Upgrades Spotify Technology to Buy, Raises Price Target to $300
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Barton Crockett has upgraded Spotify Technology (NYSE:SPOT) from Neutral to Buy and increased the price target from $150 to $300, indicating a positive outlook on the company's future performance.
December 11, 2023 | 1:45 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Spotify Technology's stock rating has been upgraded by Rosenblatt from Neutral to Buy, with the price target being raised significantly from $150 to $300.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest improved future performance and investor confidence. The substantial increase in the price target from $150 to $300 by Rosenblatt reflects a strong conviction in Spotify's growth potential, which is likely to influence investor sentiment and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100