Spotify is getting great reviews on Wall Street, even though analysts don’t agree on the company’s value. Leading firms Guggenheim Partners and Morgan Stanley have nearly a $10 billion difference between their valuations, with Guggenheim claiming the company is worth $41.5 billion and Morgan Stanley saying $51.1 billion.
The difference is partly rooted in differing forecasts on Spotify’s podcasting strategy.On Monday, Guggenheim gave Spotify’s stock a sell rating -- not because the company is doing poorly, but because its share price has exploded roughly 73% in 2020.
Guggenheim also raised its price target from $170 to $223 per share, 16.5% above the $258.16 closing price on Tuesday (June 30).
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