Wells Fargo raised the firm’s price target on Shopify (SHOP) to $120 from $90 and keeps an Overweight rating on the shares. The firm notes the company delivered a blowout Q3, with accelerating trends, demonstrable share gains, and impressive free cash flow margins. Wells continues to see Shopify as a structural winner and a top idea over the near term.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP: