DZ Bank Downgrades Shopify to Sell, Announces $65 Price Target
Portfolio Pulse from Benzinga Newsdesk
DZ Bank analyst Axel Herlinghaus has downgraded Shopify (NYSE:SHOP) from Hold to Sell and set a new price target of $65.
December 12, 2023 | 1:01 pm
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Shopify downgraded by DZ Bank from Hold to Sell with a price target of $65, potentially indicating a bearish outlook for the stock.
Downgrades by analysts can lead to a negative perception among investors and a potential decrease in stock price. The new price target of $65 suggests a bearish view on the stock's value, which may influence short-term trading sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100