The Globe and Mail reports in its Saturday, May 6, edition that National Bank Financial analyst Richard Tse is sticking with his "outperform" recommendation for Shopify. The Globe's David Leeder writes that Mr. Tse's share target soared $20 to $80 (all figures U.S.). Analysts on average target the shares at $55.22. Mr. Tse says in a note: "Aside from the solid Q1 results, the big news was the announced divestiture and concurrent headcount restructuring across all of Shopify. First, Shopify will be divesting its Logistics Assets to Flexport (a current partner) in exchange for shares representing 13-per-cent equity in Flexport. At the same time, Shopify will divest 6 River Systems (6RS) to Ocado (terms undisclosed). Both transactions are expected to close in the latter half of FQ2. In our view, while fulfillment was a meaningful opportunity for Shopify, it had been an overhang for the stock given the significant financial and operating commitment. Second, Shopify announced a 23-per-cent reduction in its workforce, which we estimate the annualized cost savings from those reductions will be around $270-million." The Globe reported on April 28 that Citi rated Shopify "neutral" when it was worth $47.59.