Wells Fargo upgraded Spotify shares to overweight from equal weight, citing the music streaming giant's commitment to improving its margins.
It's time to jump back into the Spotify bandwagon, according to Wells Fargo. Analyst Steven Cahall upgraded the audio streaming stock to to overweight from equal weight, saying the company is now "off margin probation." The upgrade comes a week following the company's strong fourth-quarter earnings report . "When we upgraded SPOT to Equal Weight it was predicated on management showing progress against margin targets.
"We believe investors will be heartened to see non-music initiatives finally drive margin expansion and believe that industry Q4 results show that the ad market has now bottomed, driving improved confidence in estimates and multiple expansion," wrote analyst Hamilton Faber in a Monday note. Nonetheless, both firms noted that Spotify is a difficult company to value.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
ECB: Another 50 bps rate raise due in March – UOBEconomist at UOB Group Lee Sue Ann assesses the latest ECB event on February 2. Key Takeaways “The European Central Bank (ECB), at its first meeting o
Consulte Mais informação »
50-car train derailment sparks massive fire, mandatory evacuation order in OhioAbout 50 train cars derailed. Officials have not said what materials were being transported or what might have caused the fire after the derailment.
Consulte Mais informação »
50-car train derailment causes big fire, evacuations in OhioThe derailment prompted an evacuation order and a declaration of a state of emergency in an Ohio village near the Pennsylvania state line.
Consulte Mais informação »
Evacuation order remains in effect at the scene of 50-car train derailment in OhioA smoldering tangle of dozens of derailed freight cars, some carrying hazardous materials, has kept an evacuation order in effect in Ohio near the Pennsylvania state line as environmental authorities warily watch air quality monitors.
Consulte Mais informação »