7/102 sources · 2 publishersUpdated Oct 26, 19:59 UTC
Phillip Securities downgrades Spotify to Accumulate as shares slip
Phillip Securities lowered its rating on Spotify Technology SA to Accumulate from Buy, citing recent share‑price movement. Analyst Helena Wang kept the firm’s price target at $650. The downgrade was followed by a 1.73% intraday drop, with the stock trading around $574‑$585.
Why it matters
The downgrade may weigh on investor sentiment and could pressure the share price in the short term, as indicated by the immediate 1.73% decline reported by marketscreener.com.
Key facts
- 1Phillip Securities downgraded Spotify to Accumulate from Buy. investing.com
- 2Analyst Helena Wang made the rating change. investing.com
- 3The firm kept its price target unchanged at $650. investing.com
- 4Spotify was trading at $584.22, up 12.6% over the past week. investing.com
- 5The stock was 14% below its 52‑week high of $676.67. investing.com
- 6After the downgrade, Spotify traded at $574.14, down 1.73% for the day. marketscreener.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.