Shopify price target raised to $80 from $75 at Scotiabank

Scotiabank raised the firm’s price target on Shopify (SHOP) to $80 from $75 and keeps a Sector Perform rating on the shares. The firm sees opportunities for both top and bottom-line beats for the company, the analyst tells investors. While the firm continues to rate the stock as Sector Perform, Scotiabank believes the momentum in the stock can continue due to the company’s ability to drive strong upside on multiple levers in its model.