BMO Capital raised the firm’s price target on Shopify (SHOP) to $190 from $180 and keeps an Outperform rating on the shares. The company reported “solid” Q3 results, its Q4 guidance beat on revenue, and its gross merchandise volume growth was the strongest since 2021, the analyst tells investors in a research note. The stock remains attractive given the durability of Shopify’s growth and the strength of its market position, the firm added.
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