KeyBanc analyst Justin Patterson raised the firm’s price target on Shopify (SHOP) to $130 from $80 and keeps an Overweight rating on the shares. The firm notes the company reported a strong Q3 print and Q4 guide above expectations as it assumes top-line acceleration. Top-line outperformance was driven by Shopify Plus momentum, payments penetration, same-store sales growth, and strength in Europe.
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