Option Millionaires

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Shopify price target raised to $45 from $40 at SMBC Nikko
SMBC Nikko analyst Andrew Bauch raised the firm's price target on Shopify to $45 from $40 and keeps an Outperform rating on the shares. The analyst says Shopify is one of the few names in his coverage with the potential to accelerate sales growth and expand margins simultaneously in 2023. He sees "see several emerging and SHOP-specific opportunities, the most important being the evolution of Shopify's Payment strategy." Bauch recommends investors accumulate the shares opportunistically.