BMO Capital analyst Thanos Moschopoulos initiated coverage of Shopify (SHOP) with an Outperform rating and $120 price target The company has achieved better growth and operating leverage in recent quarters, since divesting logistics in 2023, the analyst tells investors in a research note. The firm says that while tariffs create near-term risk, Shopify’s core strength is the “agility that its platform provides to merchants.” Tariff-related “disruption will make this competitive differentiator all the more relevant, driving accelerated share gains,” adds BMO.
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