KeyBanc analyst Josh Beck last night raised his price target for Shopify to $300 from $275 while keeping an Overweight rating on the shares. The analyst left e-commerce platform Magento's industry conference more positive on Shopify. The "competitive narrative appears over-hyped given Magento's ongoing enterprise focus," Beck told investors in a research note. The analyst sees a path where Magento can gain ~9% market share and Shopify ~2% with "limited overlap" in the coming years. The market has "ample opportunities" for both companies, says Beck, who also raised his "bull case" for Shopify shares to $350. The stock in afternoon trading is up 2% to $298.21.