Barclays Maintains Equal-Weight on Shopify, Raises Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Trevor Young maintains an Equal-Weight rating on Shopify and raises the price target from $65 to $70.
October 01, 2024 | 3:55 pm
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POSITIVE IMPACT
Barclays has maintained its Equal-Weight rating on Shopify while increasing the price target from $65 to $70, indicating a positive outlook.
The increase in price target from $65 to $70 by Barclays suggests a positive sentiment towards Shopify's future performance. Maintaining an Equal-Weight rating indicates that the stock is expected to perform in line with the market. This could lead to a short-term positive impact on Shopify's stock price as investors may view the raised target as a sign of confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100