Jefferies ups Shopify target, says OpenAI rollback strengthens position

Jefferies analyst Samad Samana raised the firm’s price target on Shopify (SHOP) to $150 from $125 and keeps a Hold rating on the shares. The firm believes OpenAI’s decision to rollback plans to facilitate checkout within ChatGPT reinforces Shopify’s competitive position within the agentic commerce ecosystem. The news highlights the strength of Shopify’s e-commerce infrastructure, the analyst tells investors in a research note. Jefferies says Shopify’s platform and continued investment in AI have positioned the company to become the infrastructure layer for agentic commerce and the “go-to agent-enablement toolkit for merchants.”