Truist analyst Terry Tillman lowered the firm’s price target on Shopify (SHOP) to $110 from $155 on material valuation compression across coverage, while keeping a Hold rating on the shares. The firm says it is incrementally more constructive following Q4 that showcased gross merchandise volume strength, accelerating payments penetration, and continued international/enterprise momentum. Today’s price action feels disconnected considering AI defensibility/strong fundamentals, argues Truist.
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