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The news is set in the world of finance, with a focus on the company Scotiabank. The main event is Scotiabank raising its price target for Shopify from $90 to $115 and maintaining a Sector Perform rating. The key figure is Scotiabank, with Shopify being the subject of their rating. The significant object is the price target for Shopify. Scotiabank expects recent US e-commerce strength and increased exposure to international and enterprise markets to drive a beat in gross merchandise value and revenue growth. The scene is a financial environment where Scotiabank is making predictions about Shopify's performance.

Scotiabank has raised its price target for Shopify (NYSE:SHOP) to $115, up from $90, while maintaining a Sector Perform rating. The brokerage attributed this upward revision to recent strength in the U.S. e-commerce market and increased exposure to international and enterprise markets. Scotiabank expects these factors to drive a beat in gross merchandise value and revenue growth for Shopify.

The analysts at Scotiabank highlighted Shopify's robust platform, which enables merchants to sell online and in-person, and its strong brand presence. They also noted the company's expanding logistics network and tech infrastructure as key competitive advantages. Additionally, Shopify's ability to cater to both small and large businesses, as well as its strategic partnerships, contribute to its market dominance.

Scotiabank's optimistic outlook is supported by the company's free cash flow growth, which is projected to grow at a 23% CAGR through 2028. The brokerage also pointed to underpenetrated online retail in core markets like Mexico, Brazil, and Argentina, where e-commerce still accounts for only 15% of total retail sales, well below global benchmarks. On the fintech side, Shopify's growing user base and strong credit growth position it well for future growth.

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References:
[1] https://ca.investing.com/news/stock-market-news/scotia-starts-mercadolibre-at-sector-outperform-calls-it-top-latam-retail-pick-4121906