"Mizuho upgraded SHOP to an outperform rating with a price target of $150. "We see AI acting as a structural tailwind for SHOP rather than a disruption risk, and believe the company is well positioned to sustain accelerated share gains by enabling merchants to leverage multiple channels for commerce," they said, as quoted by CNBC. "Amid rising fears of AI disruption to software, we view Shopify as one of the companies best-positioned to outperform over the NTM and view the recent pull-back (-26% YTD vs. IGV -21%) as an attractive entry point.""
"It'll be interesting to see how markets continue to react to the better-than-expected jobs report and its potential impact on the Federal Reserve's interest rate outlook. Of course, we'll have a better idea of potential direction when we see consumer price index numbers. If CPI "comes in tame, at least the market can understand that the inflation part of the Fed's equation is cooling," Tom Lee, head of research at Fundstrat Global Advisors, told CNBC. "And of course, now, if the job market is showing decent strength, it kind of relieves us from a macro perspective, because at least we're not seeing an economic downturn," Lee continued."
Futures open in the green with the S&P 500 up 0.34%, SPY up 0.42%, the Dow up 0.31% and the Nasdaq up 0.39%. Markets are reacting to a better-than-expected jobs report that could affect the Federal Reserve's interest rate outlook, while upcoming consumer price index numbers will clarify inflation momentum. Tom Lee said tame CPI would signal cooling inflation and that a strong job market reduces recession risk. Shopify fell but received bullish notes: Mizuho upgraded to outperform with a $150 target and TD Cowen set a $159 target, calling the pullback an entry opportunity.
Read at 24/7 Wall St.
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