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Fly News Breaks for November 3, 2016
SHOP
Nov 3, 2016 | 07:57 EDT
Baird analyst Colin Sebastian raised his price target on Shopify to $48 from $40 following its Q3 beat. The analyst calls the company a best-in-class small to mid-cap growth story. He believes management is making prudent investments in product to improve functionality for merchants, add new channels, and expand the partner/developer ecosystem. Sebastian reiterated his Outperform rating on Shopify shares.
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