MoffettNathanson upgraded Shopify (SHOP) to Buy from Neutral with a price target of $150, up from $122. The recent selloff in the shares has created an “unusually attractive entry point,” the analyst tells investors in a research note. The firm sees Shopify as a “long-term winner in the AI commerce wars.” The company will benefit, not be threatened, from AI, contends MoffettNathanson. The firm believes direct commerce is taking share from Amazon.
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