Shopify price target raised to $134 from $82 at BofA

BofA raised the firm’s price target on Shopify (SHOP) to $134 from $82 and keeps a Buy rating on the shares. Q3 results suggest that Shopify continues to gain share of the e-commerce industry, while strength in international and enterprise are contributing more materially, the analyst tells investors in a post-earnings note. The firm cites revenue upside and accelerating growth for its increased target as it rolls forward valuation to calendar year 2026.