December 18, 2018 / 3:13 PM / a year ago

BUZZ-Shopify: Rises after Wells Fargo initiates with 'outperform'

** U.S.-listed shares of Shopify up ~2.5 pct at $133.9 after Wells Fargo initiates coverage on stock with “outperform” rating

** SHOP poised drive margin expansion over the next several years via scale and harnessing data to improve its top-line and operational efficiency, broker says

** Over the next 2-3 years, SHOP can grow its top-line at a rate of at least 30 pct and a clear path to profitability will emerge - Wells Fargo

** SHOP is well-positioned to benefit from shift to digital and omni-channel commerce, particularly among small- and mid-size businesses, analyst Timothy Willi says

** Stock bludgeoned since Friday’s share offering to raise $400 mln

** 17 of 27 brokerages rate the stock “buy” or higher, 9 “hold” and 1 “sell” or lower; their median PT is $170 (Reporting by Devbrat Saha in Bengaluru)

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