Atlantic Equities - Spotify Technology SA (SPOT) Initiate at Overweight

Report

Atlantic Equities

James Cordwell

Initiate at Overweight

We initiate on Spotify with an Overweight rating and $160 YE18 PT. Streaming music is a large, attractive growth opportunity and Spotify is well positioned to maintain its leadership position given its data advantage should enable it to offer a superior service. This leadership should also translate into steadily improving leverage with the music labels, offering the prospect of profitability by 2020.

28/03/2018 25 EN

Underlying

Spotify Technology SA

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Provider

Atlantic Equities

Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.

Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.

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Analysts

James Cordwell

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