Shopify price target raised to $192 from $165 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Shopify (SHOP) to $192 from $165 and keeps an Overweight rating on the shares. The message that Shopify remains “a true growth company delivering consistent, strong results, and leading the innovation charge across the commerce landscape,” was clear and well-supported by results and the Q3 earnings call, the analyst tells investors. The firm sees greater than 30% profitable growth with “solid AI positioning” sustaining the stock’s premium, the analyst added.