RBC Capital Maintains Outperform on Shopify, Lowers Price Target to $85
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Paul Treiber maintains an Outperform rating on Shopify (NYSE:SHOP) and lowers the price target from $100 to $85.
May 09, 2024 | 5:04 pm
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RBC Capital has maintained its Outperform rating on Shopify but reduced the price target from $100 to $85.
The adjustment in price target by RBC Capital reflects a recalibration of expectations for Shopify's stock, potentially due to market conditions or Shopify's performance outlook. While the Outperform rating indicates continued confidence in the company's prospects, the reduction in price target suggests a tempered outlook on the stock's short-term price performance. Investors may view this as a signal to adjust their expectations for Shopify's stock value growth, although the maintained Outperform rating still suggests a positive view on the company's fundamental strength and market position.
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