KeyBanc analyst Justin Patterson lowered the firm’s price target on Shopify (SHOP) to $105 from $140 to reflect a more conservative annual revenue forecasts, while keeping an Overweight rating on the shares. Following the tariffs announced on “Liberation Day” and the greater market reset, the firm is lowering estimates ahead of Q1 reports to account for lighter consumer discretionary spend in the U.S. than previously anticipated.
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