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Spotify: 'Cautious' Because of the Competition

Amazon.com, Apple and Google have two main advantages over streaming music star Spotify Technology (SPOT): Financial flexibility and built-in access to new customer streams. “The competitive landscape could increasingly becoming a headwind to Spotify’s user growth story,” Deutsche Bank analysts wrote Wednesday as they started coverage of the company with a “hold” rating and a $155 price target that’s below current levels. Deutsche Bank said it was “cautious” about Spotify despite general optimism about streaming music, citing concerns about the possibility of margin growth and competition.