02:40 PM EDT, 09/30/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We see an enhanced buying opportunity with the share price down today on news of leadership changes at the company. We keep our 12-month target price at $790 per share using a forward TEV/EBITDA of 51.1x compared to the five-year historical average at 64.6x. We keep our EPS estimates at EUR5.80 in 2025 and EUR11.40 in 2026 on respective revenue projections of EUR17.6B and EUR20.2B. Daniel Ek, founder and CEO after 20 years, will move to Executive Chairman and the board of directors has approved Gaustav Soderstrom and Alex Norstrom as the new co-CEOs, both reporting to Ek. We do not see any business continuity risk from these changes as the new co-CEOs have each been with SPOT for over 15 years working together. The media has reported some customer concerns with Ek's venture capital investments in the defense industry, but we do not see any material damage to SPOT's brand or growth potential. We think leadership changes could affect the next stage in expanding SPOT's position in music streaming.