Benchmark analyst Mark Zgutowicz raised the firm’s price target on Spotify (SPOT) to $440 from $430 and keeps a Buy rating on the shares in front of Spotify’s Q3 earnings due after market close on Tuesday, November 12. While raising its price target ahead of earnings, the firm notes that it reduced Q4 and 2025 ARPU estimates by 1% and 2%, respectively, to more conservatively reflect premium net add mix-shift to emerging markets.
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