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Oppenheimer Neutral on Spotify as it awaits next steps

Published 07/10/2018, 10:28 AM
© Reuters.  Oppenheimer Neutral on Spotify as it awaits next steps
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  • Spotify (SPOT -0.3%) has gotten an initiation at Oppenheimer at Market Perform, as the firm argues a few milestones are ahead before bullishness can really take hold.
  • Intrinsic value for the stock is $160-$170/share, says analyst Jason Helfstein (shares are currently at $176.98). But the bull case depends on Spotify differentiating its service to hold market share (which will erode as companies like Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) exploit existing subscriber bases) and on it boosting gross margins. (h/t Bloomberg)
  • Spotify is up 19.1% in 2018.
  • Now read: Wall Street Breakfast: Wrench Thrown Into Brexit Plans


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