Spotify hits new all-time high on the New York Stock Exchange
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nme.comSpotify stock has hit a new all-time high on the New York Stock Exchange this week.On Friday (January 8), the streaming giant’s stock reached $354.60, and closed at $353.48, up 7% from the closing price the day before and up 12.2% for the week.
At Friday’s high, Spotify’s value rose to roughly $66.1 billion.According to market data company Refinitiv (via Billboard), Spotify’s stock is valued way above what many analysts have assessed it to be worth.
The median analyst price target lists the DSP’s stock at $299.46, which is 15.6% below Friday’s high price.The reason for the increase is not exactly clear, but it could have something to do with Bank of America recently increased its Spotify stock target price from $357-per-share to.
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