Automated Warehouses Will Drive Shopify Stock to $1,250, an Analyst Says
Shares of Shopify (NYSE: SHOP) have already jumped 167% so far in 2020, but will surge to new all-time highs over the coming year.
That's according to KeyBanc Capital Markets analyst Josh Beck. On Tuesday, Beck raised his price target from $1,150 to $1,250, while maintaining his overweight (buy) rating on Shopify's stock. His new target represents potential gains for investors of roughly 17% over the stock's closing price on Monday of about $1,066.
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Source Fool.com