Keybanc Hikes Spotify Technology S.A. (SPOT)'s Price Target To $860, Maintains Overweight Rating

Spotify Technology S.A. (NYSE:SPOT) is among the 13 Best Global Stocks to Buy Right Now. On July 11, Keybanc lifted the stock’s price target to $860 from $640, while maintaining an Overweight rating for its shares. The adjustment represents significant upside potential, given its share price of $674.46 at the close on July 23.

The firm said that it expects Spotify Technology S.A. (NYSE:SPOT)’s second-quarter results and guidance for the third quarter to contain some variability related to foreign exchange, seasonal gross margin dynamics, and social charges.

The analyst has advised investors to buy any near-term dips and reiterated that its core thesis remains intact. Keybanc believes that music is under-monetized in a price inflationary market with favorable competitive dynamics and several initiatives that support high-teens revenue growth.

In other news, Deutsche Bank on Wednesday also raised Spotify Technology S.A. (NYSE:SPOT)’s target price to $775 from $700 and maintained a Buy rating for its shares. The Luxembourg-based company, which provides digital music-streaming services worldwide, has seen impressive returns in 2025, gaining 51% year-to-date.

While we acknowledge the potential of SPOT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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