RBC Capital lifts Shopify (SHOP -1.8%) to an Outperform rating on its view the online retailer will see merchant growth again as international opportunities factor in.
The RBC analyst team thinks the bear case on Shopify is starting to wear out with churn rates moderating.
RBC's price target of $230 on Shopify reps 33% upside potential for shares and is well-above the all-time high of $180.00.
Now read: Shopify: Great Results Again »
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