Spotify Stock Gets Price-Target Hikes Ahead Of Earnings Report [Investor's Business Daily]
PANDORA MEDIA (P)
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Source: Investors Business Daily
Related news Streaming music leader Spotify Technology ( SPOT ) received a pair of bullish Wall Street reports on Friday, just days before it is scheduled to release second-quarter results. Buckingham Research on Friday reiterated its buy rating on Spotify stock and raised its price target to 201 from 195. Raymond James kept its strong buy rating on Spotify and upped its price target to 210 from 190. Raymond James analyst Justin Patterson is bullish on streaming music in general. On Friday, he also raised his price target on Pandora Media ( P ) to 11 from 9 and stuck with his strong buy rating. "The streaming music industry is still in the early innings of global adoption," he said in a report to clients. "We continue to view the industry as being driven by 1) expansion into new territories, 2) share gains within market, and 3) proliferation of connected speakers and cars (e.g. new engagement channels)." Spotify stock rose 0.2% to 182.61 on the stock market today . The recent IPO hit
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