Spotify Looks Like Netflix To One Wall Street Firm

Описание

Investing.com - Think of Spotify as the Netflix (NASDAQ:NFLX) of music.That's why JPMorgan Chase (NYSE:JPM) thinks the music streaming company is a buy.The Wall Street firm initiated coverage of Spotify with an overweight rating and a 12-month stock price target of $190 a share.In a note to clients, Morgan said both Spotify and Netflix are benefitting from a major shift to a subscription-based, streaming model and will generate double-digit user growth. RBC Capital Markets, Stifel and Canaccord Genuity have already issued bullish notes on Spotify since it went public a month ago.