UBS analyst Batya Levi raised the firm’s price target on Spotify (SPOT) to $540 from $485 and keeps a Buy rating on the shares. The firm remains bullish on the shares in 2025, telling investors in a research note that momentum should continue with 13%+ currency neutral revenue growth, supported by 23M premium adds vs. 24M in 2024 and a focus on product enhancements in support of future monetization while continuing to progress towards long-term financial targets. The firm also sees a number of potential catalysts ahead, including the eventual launch of premium and superfan tiers, additional price increases with product enhancements roll out, potential upside from changes to family plans, and improved advertising trends as programmatic partnerships scale.
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