Morgan Stanley Upgrades Shopify to Overweight, Raises Price Target to $85
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Keith Weiss upgrades Shopify (NYSE:SHOP) from Equal-Weight to Overweight and raises the price target from $74 to $85.

April 19, 2024 | 9:43 am
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POSITIVE IMPACT
Shopify's stock rating was upgraded by Morgan Stanley from Equal-Weight to Overweight, with the price target increased from $74 to $85.
Upgrades by major financial institutions like Morgan Stanley typically lead to positive short-term price movements due to increased investor confidence and perceived value. The increase in price target further supports a bullish outlook for Shopify, suggesting that the stock may perform well in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100