CIBC raised the firm’s price target on Shopify (SHOP) to $145 from $125 and keeps an Outperformer rating on the shares ahead of the Q2 report on August 6. The firm believes the company will meet or exceed Q2 expectations for revenue growth. It believes Shopify is positioned to help merchants navigate tariff challenges and sees upside to estimates if a “reasonable” China tariff agreement is reached.
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