Market News / Story
Spotify initiated at Neutral by Piper Sandler
Seeking Alpha ·
Seeking Alpha reports: Piper Sandler initiated coverage of Spotify Technology with a Neutral rating and a $540 price target, saying the streaming company remains a “Product Leader in a Large Market” but needs a catalyst to warrant a more positive stance. PT represents a 5.3% upside from the stock's last close. Spotify’s advertising business is “in-progress,” with the brokerage noting that the company’s shift toward programmatic advertising has been a near-term headwind. Analyst James…