Spotify price target raised to $330 from $300 at Macquarie

Macquarie analyst Tim Nollen raised the firm’s price target on Spotify to $330 from $300 and keeps an Outperform rating on the shares. The analyst expects an in-line Q1 report from Spotify on April 23. The firm cites the company’s continued focus on profitability for the target increase following the U.S. price hike and headcount cuts. Macquarie believes podcasting is nearing an inflection to profitability for Spotify.