Shopify price target raised to $115 from $90 at Scotiabank

Scotiabank raised the firm’s price target on Shopify (SHOP) to $115 from $90 and keeps a Sector Perform rating on the shares. While the firm maintains its rating on the stock, recent U.S. e-commerce strength and increased exposure to International and Enterprise markets may help drive a beat in gross merchandise value and deliver upside to outlook on revenue growth, the analyst tells investors.