JP Morgan Maintains Overweight on Shopify, Raises Price Target to $76
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Reginald Smith maintains an Overweight rating on Shopify and raises the price target from $74 to $76.
August 20, 2024 | 2:52 pm
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POSITIVE IMPACT
JP Morgan has reaffirmed its Overweight rating on Shopify and increased the price target from $74 to $76, indicating a positive outlook on the stock.
The increase in price target from $74 to $76 by JP Morgan suggests a positive sentiment towards Shopify's future performance. The Overweight rating indicates that the analyst expects the stock to outperform the average total return of stocks in the analyst's coverage universe. This is likely to have a positive short-term impact on Shopify's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100