The Globe and Mail reports in its Tuesday edition that Truist analyst Terry Tillman continues to rate Shopify "hold." The Globe's David Leeder writes that Mr. Tillman's share target soared $15 to $90 (all figures U.S.). Analysts on average target the shares at $77.51. Mr. Tillman expects Shopify to release a "strong" quarterly report on Tuesday, seeing upside to the Street's expectations for its gross merchandise volume results. Mr. Tillman says in a note: "Along with earlier in quarter constructive Cyber Week update and our own primary research on continued on-line and off-line commerce share gains, Truist card data points to potentially a strong 4Q finish/upside for GMV. Such an outcome would likely drive upside across both subscription and merchant solutions revenue along with non-GAAP operating profit. ... The implied GMV level per the card sales would reflect roughly 32-per-cent quarter-over-quarter growth in 4Q23. This would represent in-line performance to 4Q22 q/q GMV growth and modest acceleration from 29-per-cent q/q GMV growth in 4Q21. ... We recommend other quality ways to play e-commerce and omni-channel tech dynamics." The Globe reported on Feb. 9 that Citi rated Shopify "neutral" when it was worth $90.72.