Why This Spotify Analyst Says Streaming Stock Will Be A Winner In 2021

Benzinga2021-04-07

Evercore ISI analyst Mark Mahaney discussed his top internet stock picks on CNBC's "Squawk Alley."

Evercore ISI initiated coverage on the internet sector this week. Some stocks in the space are positioned for long-term success, Mahaneysaid.

The one at the top of Evercore's list isSpotify Technology S.A.SPOT 3.23%, Mahaney told CNBC.

"We had Facebook in '18, Netflix in '19, Uber in '20. I think that stock this year is Spotify."

The research firm plans to look at 2022 projections this summer and structural winners at reasonable valuations likeFacebook, Inc. FB 0.86% andAmazon.com, Inc. AMZN 0.09%, the analyst said.

He named Uber Technologies, Inc.UBER 1.1%as a cyclical recovery stock.

If Evercore is wrong on Amazon and Facebook, "it's probably because of regulatory risks," the analyst said.

One of the biggest points of debate from clients and investors was whether to go with Uber orLyft, Inc.LYFT 0.36%, he said.

Investors want companies with global presence and Uber has that, Mahaney told CNBC.

SPOT Price Action:Spotify gained 3.31% Tuesday, closing at $282.34.

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Comments

  • missseason
    2021-04-07
    missseason
    No one saw subscription as the solution to piracy
  • bzlim
    2021-04-07
    bzlim
    Never understood the appeal behind Spotify 
  • naan
    2021-04-07
    naan
    Fantastic 
  • OlafPikachu
    2021-04-07
    OlafPikachu
    Interesting ?
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