September 28, 2023

4 Big Analyst Picks: Spotify Gains On Upgrade, Ball Raised To Equal-Weight

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London, UK - July 31, 2018: The buttons of the music streaming app Spotify, surrounded by Podcasts, Apple Music, Facebook and other apps on the screen of an iPhone.

Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Spotify, Ball, Avis Budget Group, and Melco Resorts & Entertainment subscribers got this news first. Never miss another market-moving headline Spotify upgraded to Outperform Spotify Technology (NYSE:SPOT) shares gained nearly 3% premarket today after Wolfe Research upgraded the company to Outperform from Peerperform with a price target of $190.00. The rating change is based on several factors, including (1) the potential for accelerated top-line growth, (2) a steady expansion of margins, and (3) the likelihood of sustained positive revisions to Street estimates over the next 12 months. Ball upgraded at Wells Fargo Wells Fargo upgraded Ball (NYSE:BALL) to Equal-weight from Underweight with a price target of $55.00, as reported in real time on  The upgrade was followed by the company’s announcement that it is exploring a sale of its Aerospace business for approximately $5.0 billion. “While we remain cautious that consistent synchronized global bev can growth will materialize, the risk/reward is now more balanced,” added the firm. 2 more upgrades Avis Budget Group (NASDAQ:CAR) shares surged more than 9% yesterday after Morgan Stanley upgraded the company to Overweight from Equal-weight and raised its price target to $230.00 from $182.00 The firm said that with the backdrop of normalization in the car rental industry, it looks for operational execution to preserve what could now be a higher floor for the industry Credit Suisse upgraded Melco Resorts & Entertainment (NASDAQ:MLCO) to Outperform from Neutral and raised its price target to $18.20 from $14. Shares rose more than 3% yesterday According to the firm, Melco has an undemanding valuation, and it sees a likely positive Q2 earnings surprise on the way.

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