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Fly News Breaks for February 7, 2019
SPOT
Feb 7, 2019 | 09:12 EDT
RBC Capital analyst Mark Mahaney lowered his price target on Spotify after its Q4 earnings, saying that while the quarter was "in-line to modestly above" consensus, the outlook for Q1 missed in terms of gross margins and operating losses. The analyst keeps his Outperform rating on Spotify, attributing the misses "almost entirely to pending acquisitions & investments in Podcasts", which he sees as a "smart strategic direction".
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