Arete upgraded Shopify (SHOP) to Buy from Neutral with a price target of $175, up from $166. The firm sees an attractive valuation following the recent share weakness. Shopify still has potential to gain share across commerce and is well positioned for the introduction of agentic commerce, the analyst tells investors in a research note. Arete believes concerns over AI coding tools diminishing Shopify’s “moat” underestimate the “lock-in” the company has with its merchants.
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