Shopify is up about 50% year to date and reached an all-time high in October.
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Shopify, Alphabet and ServiceNow are among the companies that Adam Parker's firm says could get a revenue lift from using AI.
Additional catalysts for the e-commerce giant include advertising revenue growth and the expansion of its grocery business.
Mizuho and TD Cowen respectively see Shopify rallying 26% and 34%.
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The company hit an all-time high earlier in December, and the stock is up more than 19% — outpacing the S&P 500's 17% advance.
