BofA Bets On Spotify, Sees Scope For Share Repurchase Program Initiation After New CFO Announcement
BofA Bets On Spotify, Sees Scope For Share Repurchase Program Initiation After New CFO Announcement
BofA Securities analyst Jessica Reif Ehrlich raised the price target of Spotify Technology S.A. (NYSE:SPOT) to $315 from $265 and reiterated the Buy rating.
美銀證券分析師傑西卡·裏夫·埃利希將Spotify Technology S.A.（紐約證券交易所代碼：SPOT）的目標股價從265美元上調至315美元，並重申了買入評級。
The analyst is confident that the company's first quarter FY24 results will be at least in line with guidance, including revenue, premium subscribers, and MAUs.
分析師相信，該公司24財年第一季度的業績將至少符合指導，包括收入、高級用戶和MAU。
Also, the analyst writes that they are confident about sustainability of share price momentum led by subscriber growth, monetization opportunities, scaling of advertising and continued operating leverage.
此外，該分析師寫道，他們對訂戶增長、獲利機會、廣告規模和持續運營槓桿率帶動的股價勢頭的可持續性充滿信心。
Related: Spotify Raises Subscription Prices in France Following New Music Tax
相關: 在新的音樂稅之後，Spotify提高了法國的訂閱價格
Given the strong balance sheet and FCF trajectory, the analyst notes ample capacity to start a share repurchase program (likely after the new CFO announcement), which could be a share price driving factor in the second half.
鑑於強勁的資產負債表和FCF走勢，分析師指出，有足夠的能力啓動股票回購計劃（可能在新首席財務官宣佈之後），這可能是下半年股價的驅動因素。
The analyst adjusted the first-quarter forecast to reflect higher social costs, lowering operating income to €121 million (from €180 million).
該分析師調整了第一季度的預測以反映更高的社會成本，將營業收入從1.8億歐元降至1.21億歐元。
The analyst slightly lowered CY24 estimates mainly due to foreign exchange adjustments. Meanwhile, the analyst raised the estimates for CY25 and CY26 forecasts, which imply mid-teens revenue growth with a gross margin of 30.2% and FCF of €2.57 billion in CY26.
該分析師小幅下調了24財年的預期，這主要是由於外匯調整。同時，分析師提高了對25財年和26財年的預測，這意味着26財年中期收入將增長，毛利率爲30.2％，FCF爲25.7億歐元。
Also Read: Spotify Brings Ed Sheeran, Doja Cat, Ice Spice And Other Music Videos In New Update, But There's A Catch
另請閱讀: Spotify 在新更新中推出了 Ed Sheeran、Doja Cat、Ice Spice 和其他音樂視頻，但有一個問題
Price Action: SPOT shares are up 2.52% at $259.14 on the last check Wednesday.
價格走勢：在週三的最後一次支票中，現貨股價上漲2.52％，至259.14美元。
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譯文內容由第三人軟體翻譯。