By Roshan Fernandez
Spotify shares closed at a record on Wednesday after the streaming giant had its price-target raised by J.P. Morgan analysts and received an "outperform" rating from Bernstein analysts. Bernstein, which recently began coverage of the entertainment sector, gave outperform ratings to five companies, including Spotify.
J.P. Morgan raised its price target for Spotify to $730 from $670. Spotify's stock, which has remained relatively tariff-proof amid recent market volatility, rose about 4.5% to $701.08 during Wednesday's trading. It also reached an all-time intraday high of $708.19, according to Dow Jones Market Data dating back to the company's initial public offering in April 2018.
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(END) Dow Jones Newswires
June 04, 2025 16:59 ET (20:59 GMT)
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