Canaccord Genuity Upgrades Shopify to Buy, Raises Price Target to $70
Portfolio Pulse from richadhand@benzinga.com
Canaccord Genuity analyst David Hynes has upgraded Shopify (NYSE:SHOP) from Hold to Buy and raised the price target from $60 to $70.
August 31, 2023 | 10:31 am
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Shopify's stock has been upgraded to Buy from Hold by Canaccord Genuity, with a price target increase from $60 to $70.
The upgrade from Hold to Buy indicates a positive outlook for Shopify's stock. The increase in price target from $60 to $70 suggests that the analyst believes the stock is undervalued at its current price, which could lead to an increase in the stock's price in the short term.
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IMPORTANCE 80
RELEVANCE 100