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SPOT

Spotify

$187.86

-0.14 (-0.07%)

06:58
07/25/18
07/25
06:58
07/25/18
06:58

Spotify price target raised to $170 from $155 at Deutsche Bank

Deutsche Bank analyst Lloyd Walmsley raised his price target for Spotify to $170 ahead of the company's Q2 results and keeps a Hold rating on the shares. The analyst expects "solid" near-term results from Spotify as the company benefits from some new country launches and enhancements to its free trial. He also sees the company's gross margins continuing to benefit from improvement in ad monetization and the benefit from the latest major label deals.

  • 26

    Jul

SPOT Spotify
$187.86

-0.14 (-0.07%)

07/23/18
BTIG
07/23/18
INITIATION
Target $230
BTIG
Buy
Spotify initiated with a Buy at BTIG
BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked". The analyst contends that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come". Greenfield attributes Spotify's advantages to the "magic six" features of its platform, namely the ubiquity of its platform across mobile OS, its global reach relative to Pandora's (P) U.S.-only presence, easy access of Spotify app from the mobile homescreen, high engagement of 44% monthly active users reporting daily use, favorable credit card billing relationships with its 57M account holders, and customer loyalty.
07/23/18
07/23/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spotify (SPOT) initiated with a Buy at BTIG. 2. BJ's Wholesale (BJ) initiated with an Outperform at William Blair and Baird, a Buy at Jefferies, BofA/Merrill, Citi, and Nomura Instinet, an Equal Weight at Morgan Stanley, a Market Perform at Wells Fargo, as well as a Neutral at JPMorgan, and Goldman Sachs. 3. EverQuote (EVER) initiated with an Overweight at JPMorgan, an Outperform at JMP Securities, Oppenheimer, and William Blair, a Buy at Canaccord and BofA/Merrill, as well as a Market Perform at Raymond James. 4. International Paper (IP) resumed with a Buy at Citi. 5. Centene (CNC) initiated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/18
07/23/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. STIFEL SAYS SELL PAPA JOHN'S: Stifel analyst Chris O'Cull downgraded Papa John's (PZZA) to Sell from Hold and cut his price target for the shares to $38 from $50. The outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture," O'Cull told investors. The reports reinforce the consumer perception that Papa John's is not a trusted brand, the analyst added. His recent channel checks indicate the company's domestic same-restaurant-sales are running down in the mid-teens since last week's media report about the company's founder using a racial slur. Papa John's is in a "precarious position," as it needs a "strategic savior" but is struggling to find one "willing to underwrite a transaction given the brand damage," O'Cull contended. Papa John's shares are down 7% in midday trading BTIG SAYS BUY SPOTIFY: BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked." The analyst contended that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come." DEUTSCHE RAISES QUALCOMM TARGET TO $60: Deutsche Bank analyst Ross Seymore raised his price target for Qualcomm (QCOM) shares to $60 from $55 after concluding that removal of the uncertainty from the NXP Semiconductors (NXPI) deal likely leads to incremental upside in either scenario. The analyst said he has no way of assigning probabilities of deal approval given the politically charged nature of the pending regulatory ruling from China's State Administration for Market Regulation. Seymore kept Hold ratings on both Qualcomm and NXP. ARGUS CUTS GE TO HOLD: Argus analyst John Eade downgraded General Electric (GE) to Hold from Buy, saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. Eade lowered his FY18 EPS forecast to 97c from $1.03, adding that GE will need to show at least two quarter of progress before he would reconsider his rating. The analyst prefers other large industrials such as Illinois Tool Works (ITW), United Technologies (UTX) and Boeing (BA) over General Electric, he added.
07/25/18
PIVT
07/25/18
DOWNGRADE
Target $200
PIVT
Hold
Spotify downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Jeffrey Wlodarczak downgraded Spotify to Hold with an unchanged price target of $200. The streaming music service closed yesterday down 24c to $187.81. The analyst cites valuation for the downgrade given the "material rise" in the shares since his initiation report on May 29. Further, he increasingly views consensus 2018 premium monthly active user growth expectations as too aggressive. He lowered his Q2 premium subscriber MAU estimate from 6M to 5.5M, versus the consensus at 7M. Spotify's current valuation is fair and does not leave a lot of room for "operational/market hiccups," Wlodarczak tells investors in a research note.

TODAY'S FREE FLY STORIES

BHVN

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RTN

Raytheon

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UTX

United Technologies

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LMT

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ARES

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HAFC

Hanmi Financial

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  • 23

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PAYS

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MEOH

Methanex

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  • 01

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SHIP

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SONM

Sonim

$13.42

0.24 (1.82%)

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KINS

Kingstone Companies

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BA

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$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

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$NSD

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BCBP

BCB Bancorp

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CNXM

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  • 30

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TELL

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ROKU

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