The Globe and Mail reports in its Wednesday edition that Wedbush analysts Scott Devitt and Seth Basham assumed coverage on Shopify with an "outperform" recommendation. The Globe's David Leeder writes in the Eye On Equities column that the two Wedbush stockpickers set a share target of $62. Analysts on average target the shares at $66.51. After the sale of Shopify's logistics business earlier this year, Mr. Devitt and Mr. Basham believe the Ottawa-based company is "positioned to see improving revenue growth rates due to normalizing comps and rising margins." They predict its Shop Pay checkout service will drive upside for its shares. Mr. Devitt and Mr. Basham say in a note: "The company recently decided to sell its logistics business to Flexport and can now focus on its core competency: providing asset-light eCommerce and payments solutions spanning on-line and off-line payment processing, cross-border transaction services, merchant credit, and advertising tools. Shopify is also expanding its services to non-Shopify merchants through Shopify Commerce Components, which gives enterprises the flexibility to adopt Shopify services that meet their specific needs. This strategy has expanded Shopify's addressable market."