Shopify hit a 52-week high as analysts predict strong Black Friday sales and boost stock targets.

Shopify reached a new 52-week high of $115.82 on Friday, with several analysts upgrading its stock rating and raising price targets. The consensus rating is a "Moderate Buy" with a target price of $95.84. Analyst Kevin Krishnaratne at Scotia Capital named Shopify a top pick for Black Friday, expecting its stock to grow further despite a 40% rise since October. He anticipates an 18% increase in Black Friday sales, with Scotia Capital maintaining a $115 price target.

November 29, 2024
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