BUZZ-Spotify rises as Citizens initiates with 'market outperform'

Reuters12-17 22:04

BUZZ-<a href="https://laohu8.com/S/SPOT">Spotify</a> rises as Citizens initiates with 'market outperform'

** Music streaming platform Spotify's SPOT.N shares rise 1.5% to $588 premarket

** Citizens initiates coverage with "market outperform" rating

** Brokerage sets PT at $800, implying an upside of 38.2% to stock's last close

** "Spotify's multi-vertical audio platform is structurally positioned to drive sustained, compounding engagement, revenue, and FCF" - Citizens

** Average rating of 41 analysts is "buy", their median PT is $751.33 - data compiled by LSEG

** Up to last close, stock has risen 29.4% this year

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))

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