The Globe and Mail reports in its Friday, Sept. 22, edition that DA Davidson analyst Gil Luria has reaffirmed his "buy" recommendation for Shopify. The Globe's David Leeder writes in the Eye On Equities column that Mr. Luria boosted his share target by a buck to $73 (all figures U.S.). Analysts on average target the shares at $67.12. The Globe says Mr. Luria believes Shopify's significant investment in Klaviyo is "paying off." He notes that Shopify is one of the biggest shareholders of Klaviyo, which debuted on the New York Stock Exchange on Wednesday. Shopify's 19.25 million shares of Klaviyo were worth over $303-million at Wednesday's closing price. Shopify paid $101-million for them 14 months ago. Mr. Luria says in a note: "Beyond the liquid value to SHOP, we see Shopify as having new strategic optionality in this arena. Shopify can continue to benefit from Klaviyo's penetration of its installed base through the ownership stake, or Shopify can choose to liquidate this stake and expand its subscription offering into this fast growing segment. We believe that although Shopify originally decided to go buy/invest instead of build, this category would be a very natural extension of its product set."