Phillip Securities downgraded PayPal (PYPL) to Accumulate from Buy with a price target of $90, up from $80. The firm cites valuation for the downgrade following the stock’s recent performance. PayPal is well positioned to benefit from its two-sided global network of 432M active users, the ongoing shift to digital commerce, and innovations like Fastlane guest checkout, which can enhance merchant conversion rates, the analyst tells investors in a research note.
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Read More on PYPL:
- PayPal price target raised to $95 from $90 at Macquarie
- PayPal price target raised to $82 from $73 at BMO Capital
- PayPal price target raised to $86 from $82 at BofA
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- PayPal price target raised to $96 from $80 at Canaccord
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