Wells Fargo lowered the firm’s price target on Shopify (SHOP) to $166 from $191 and keeps an Overweight rating on the shares. The firm didn’t expect the emergence of Agentic commerce to be quick and easy. Perhaps Wells was “a bit optimistic” on the pace of adoption, but the firm is not shaken in its conviction that Agentic commerce will gain traction, and Shopify will be a prime beneficiary.
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