DA Davidson analyst Tom Forte upgraded Shopify to Buy from Neutral and maintained a $150 price target. In a research note to investors, Forte says he has long held a very favorable view of the company, particularly founder and CEO Tobi Lutke, but previously felt the share price had accurately reflected his favorable view. Forte now believes the recent pullback has created an attractive entry point for investors into an "exceptionally" well run company with the potential for open-ended growth,, especially relating to its early-stage international expansion and enterprise solution efforts. Further, Forte believes that risks are priced in at current levels.