Oppenheimer reiterated an Outperform rating and $149 price target on Shopify (SHOP), saying investor feedback on the partnership with ChatGPT centered largely on the uncertainty around the payment processor. The firm initially interpreted the partnership announcement as Shopify merchant transactions processed through Instant Checkout would most likely be facilitated by ChatGPT, potentially limiting direct monetization by Shopify. However, the firm has since clarified that ChatGPT provides the user interface, and thus views this arrangement as more favorable relative to the initial assumption.
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