RBC Capital lowered the firm’s price target on Shopify (SHOP) to $125 from $145 and keeps an Outperform rating on the shares. Shopify is likely to face growth headwinds over the next several quarters as a result of the inflationary impact of tariffs and the removal of the de minimis exemption, the analyst tells investors in a research note. RBC adds however that while shares are likely to remain volatile and valuation may be pressured in the near-term, Shopify is one of the most compelling long-term organic growth stories in its coverage.
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Read More on SHOP:
- Shopify price target lowered to $115 from $155 at Redburn Atlantic
- Shopify call volume above normal and directionally bullish
- Shopify price target lowered to $106 from $144 at Morgan Stanley
- Shopify price target lowered to $120 from $150 at Loop Capital
- Shopify price target lowered to $80 from $120 at Cantor Fitzgerald
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