🟢 SPOT is trading 4% up today as Morgan Stanley initiates coverage with $630 target

SPOT is trading at $495.84 (+4.17%) after Morgan Stanley initiated coverage with an overweight rating and a $630 price target.

• Analysts cited a projected 35% CAGR for EBIT growth and a valuation based on 30x 2027 free cash flow following the stock's $475.99 close on April 10.
• The upgrade drove significant gains even as broader markets remained mixed, with the NASDAQ up 0.33% and the S&P 500 down 0.02% due to geopolitical tensions.