Daiwa: Shopify (SHOP.US) second quarter report highlights growth potential, target price raised to $165.
According to the Zhtng Finance and Economics app, after Shopify (SHOP.US) announced its second-quarter performance, Morgan Stanley raised its target price from $112 to $165 and reiterated a "hold" rating. The bank pointed out that the year-on-year revenue growth rate for Q2 accelerated to 31%, highlighting the platform's success in rapid innovation and expansion. With its core driving factors, its market share is steadily increasing, while artificial intelligence, agent commerce, and advertising businesses are also making progress. Despite its high valuation, Morgan Stanley remains optimistic about the investment opportunities in this stock.
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