BTIG analyst Andrew Harte says the firm is surprised to see PayPal’s (PYPL) shares trading down about 9% on Tuesday morning following its Q2 report. The price reaction is more a function of high investor expectations paired with an underwhelming second half of the year outlook, rather than a weak Q2 print, in BTIG’s view. Overall, the firm says it is more positive on the company’s outlook than we were a year ago as growth initiatives are clearly coming together. BTIG has a Neutral rating on PayPal.
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