Citigroup Maintains Buy on Shopify, Lowers Price Target to $95
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Tyler Radke has maintained a Buy rating on Shopify (NYSE:SHOP) but lowered the price target from $105 to $95. This adjustment reflects Citigroup's updated valuation of Shopify's stock.
May 09, 2024 | 6:16 pm
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Citigroup maintains a Buy rating on Shopify but lowers the price target from $105 to $95, indicating a positive outlook with a revised valuation.
The adjustment in price target by Citigroup, while maintaining a Buy rating, suggests a continued positive outlook on Shopify but with a slightly reduced valuation expectation. This could lead to mixed short-term reactions in the market as investors recalibrate their expectations based on the new price target.
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