Global-e Online price target raised to $60 from $45 at Benchmark

Benchmark raised the firm’s price target on Global-e Online (GLBE) to $60 from $45 and keeps a Buy rating on the shares, telling investors “there was a lot to like” about the company’s Q3 report and guidance. Most notably, near-term GMV momentum led by better than expected volumes from large new merchants, says the analyst, who adds that Victoria Secret, Manchester United, Harrod’s and “a multitude of other new merchant adds announced on the call” suggest solid returns on steadily scaled up S&M year-to-date.