RBC Capital analyst Paul Treiber raised the firm’s price target on Shopify (SHOP) to $200 from $170 and keeps an Outperform rating on the shares. Data from several third-party sources suggest Shopify’s growth momentum and market share gains continued through Q3, the analyst tells investors in a research note. Given Shopify’s strong growth momentum and market enthusiasm for Shopify’s AI innovations, the stock is likely to continue to trade at the high end of its 3-year historical range, the firm added.
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