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Shopify price target raised to $100 from $80 at National Bank
National Bank analyst Richard Tse raised the firm's price target on Shopify to $100 from $80 and keeps an Outperform rating on the shares. The analyst expects in-line Q4 results for Shopify and sees solid gross merchandise volume of $70.8B. New growth segment execution along with growing operating leverage will support the company's relative valuation moving through 2024, the analyst tells investors in a research note.