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Shopify Stock Gets Another Buy Rating After Recent Pullback

Shopify Stock Gets Another Buy Rating After Recent Pullback

Shopify was rising Friday after an analyst at Evercore ISI said now was the time to buy stock in the e-commerce company with shares down this year. Evercore’s Mark Mahaney upgraded Shopify to Outperform from In-Line and gave the stock a $75 price target, implying a 16% increase from the stock’s closing price of $64.69 on Thursday. The analyst wrote in a research note that the recent pullback in the stock provides an attractive entry point.