Spotify price target lowered to $760 from $860 at Benchmark

Core View - Benchmark analyst Mark Zgutowicz has lowered the price target on Spotify (SPOT) to $760 from $860 while maintaining a Buy rating on the shares, indicating confidence in the company's future performance despite the price adjustment [1]. Group 1: Price Target and Rating - The price target for Spotify has been reduced to $760 from $860 [1]. - The firm continues to hold a Buy rating on Spotify shares [1]. Group 2: Market Position and Future Outlook - Spotify shares are currently about 32% below their 52-week high, suggesting potential for recovery [1]. - The firm anticipates multiple upcoming catalysts that could positively impact Spotify's performance [1]. - There is an expectation of better-than-expected incremental margin flow-through, which may lead to a re-rating of the company's valuation multiples [1]. - Spotify is highlighted as a 2026 Best Idea by the analyst, indicating strong long-term potential [1].