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Update: Morgan Stanley Raises Price Target on Spotify Technology to $610 From $590 After 'Landmark Deal' With Universal Music, Keeps Overweight Rating

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(Updates with Morgan Stanley's commentary.)

Morgan Stanley raised Spotify Technology (SPOT) price target to $610 from $590 saying the company should again be viewed as the "AI winner" because of new AI-powered interactive music features added by the UMG deal.

Spotify's 2030 revenue growth guidance came above market expectations, while gross and operating margins outlook also looked solid.

Spotify has an average rating of overweight and mean price target of $593.28, according to analysts polled by FactSet.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $527.00, Change: $+37.07, Percent Change: +7.57%

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