Spotify: back on top, UBS in support

(CercleFinance.com) - Spotify's share price is recovering towards its all-time highs on the New York Stock Exchange on Wednesday, thanks to a positive note from UBS, which decided to raise its price target on the stock.


At 11:15 a.m. (Wall Street time), the music specialist's shares had climbed 5% to close in on their all-time highs of over $500 in December.

In a study released in the morning, UBS analysts said they had raised their target on the stock from $485 to $540, anticipating another "solid" year in 2025.

The research firm, whose target shows a potential upside of 17.7%, says it expects the Swedish group to attract 23 million new paying subscribers this year, up from 24 million in 2024, while continuing to improve its profit margins.

UBS, which is maintaining its buy recommendation, forecasts free cash flow (FCF) of three billion euros in 2025, up from two billion last year.

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