Deutsche Bank Maintains Buy on Shopify, Lowers Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Bhavin Shah maintains a Buy rating on Shopify (NYSE:SHOP) but lowers the price target from $95 to $80.
May 09, 2024 | 3:56 pm
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NEUTRAL IMPACT
Deutsche Bank maintains a Buy rating on Shopify but lowers the price target from $95 to $80.
The adjustment in price target by a major bank like Deutsche Bank can influence investor sentiment, potentially leading to short-term price fluctuations. However, the maintenance of a Buy rating suggests continued confidence in the company's fundamentals, which might mitigate any negative impact from the reduced price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100