Shopify price target raised to $126 from $90 at Baird

Baird raised the firm’s price target on Shopify (SHOP) to $126 from $90 and keeps an Outperform rating on the shares. The firm said Shopify remains one of their favorite long-term ideas as they consolidate e-commerce market share with the leading SMB platform, strength in mid-market, and increasingly competitive B2B, Offline and enterprise offerings, plus increasingly capital-efficient operating model.