Bullish
Jefferies upgrades Shopify (SHOP) to 'Buy' with $160 price target, citing AI commerce growth.
In the past 24 hours, Jefferies has upgraded Shopify's stock rating to 'Buy' and raised its price target to $160, anticipating a 31% upside. This optimistic outlook is driven by expectations of strong Q2 performance and Shopify's strategic positioning in AI-driven commerce.
Key points
- Jefferies upgrades Shopify to 'Buy' with $160 price target, citing AI commerce growth.
- Sanctuary Advisors LLC reduces Shopify stake by 11.3%, holding 147,911 shares valued at $17.5 million.
- State of Michigan Retirement System decreases Shopify holdings by 14.8%, now owning 99,800 shares valued at $11.8 million.
Sources
AI-generated from public news sources. Not financial advice.
