Spotify is predicted to have a 28% upside due to undervaluation and growth potential

From Investing.com: 2024-07-12 11:56:03

Wolfe Research initiates coverage of Spotify with an Outperform rating and $390 price target, predicting a 28% upside due to undervaluation at 26x CY25E P/FCF. Spotify holds one-third of the global music streaming market, offering pure exposure and growth potential in podcasting and live audio, leading to revenue bypassing label splits and increasing ARPU. Wolfe Research’s valuation predicts steady growth to €45 billion in revenue by 2034, reinforcing an attractive long-term investment potential for Spotify investors.



Read more at Investing.com: Spotify has upside to consensus due to higher margin verticals