Truist analyst Terry Tillman raised the firm’s price target on Shopify (SHOP) to $120 from $110 and keeps a Hold rating on the shares. The company reported a strong growth at scale in Q4 with upside to estimates across gross merchandise volume, revenue, profits, and cash flow, the analyst tells investors in a research note. Truist adds however that while it is incrementally positive on the business fundamentals, it remains on hold due to valuation.
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Read More on SHOP:
- Shopify price target raised to $150 from $130 at DA Davidson
- Shopify price target raised to $144 from $126 at Morgan Stanley
- Shopify price target raised to $145 from $130 at RBC Capital
- Shopify price target raised to $135 from $120 at Wells Fargo
- Shopify price target raised to $135 from $126 at Baird