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Fly News Breaks for June 26, 2019
SHOP
Jun 26, 2019 | 06:34 EDT
Jefferies analyst Samad Samana raised his price target for Shopify to $250 from $205 but maintained a Hold rating. In a research note to investors, Samana says that while the Shopify Fulfillment Network expands its opportunity set with merchants, which may be good for the business long term, it will also likely lower the mix of high-value software revenue, alter the margin trajectory and introduce new risks/competition. It is too early to tell whether fulfillment will pay off similarly to Payments, the analyst argues.
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