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Spotify (SPOT) Stock To Rise Up To 80%, says Top Analyst, Sees “Music Industry As Highly Investable”

UPDATED: Spotify stock will rise to $200 within the next 12 months, according to top analyst Rob Sanderson of MKM Partners. Spotify (SPOT) stock was trading at $110.96 in pre-market. Continue reading [https://www.hypebot.com/hypebot/2019/01/spotify-spot-stock-to-rise-80-says-top-analyst-sees-music-i

,   and  Bruce Houghton
Spotify New $UPDATED: Spotify stock will rise to $200 within the next 12 months, according to top analyst Rob Sanderson of MKM Partners. Spotify (SPOT) stock was trading at $110.96 in pre-market trading on Wednesday, making the $200 prediction an 80% upside. The stock closed at $112.71 on Wednesday. The Dow ended the day up just .08%.Sanderson says market conditions along with the music streamer's unique IPO listing are contributing to the decline in Spotify's share price."We conclude that the valuation reset is mainly attributable to a drastic change in risk appetite, perhaps amplified by an investor base with fewer ‘anchor’ investors than peers,” the analyst said on Monday. “We continue to see the music industry as highly investable and view SPOT as the platform positioned to create the most value for the music ecosystem, and its own investors, over the next decade.”“A generous portion of IPO shares are typically allocated to tier-one, blue-chip funds intending to be long term holders and accumulators of the stock,” Sanderson continued. “We think that with fewer of these anchor investors, we should expect greater volatility in the stock (especially in downturns).”

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