Cantor starts PayPay at Overweight on Japan digital payments shift

As previously reported, Cantor Fitzgerald initiated coverage of PayPay (PAYP) with an Overweight rating and $25 price target The firm says a “significant structural shift” is occurring across Japan’s payments industry as the economy is beginning to embrace digital payments at scale. PayPay offers the most compelling way to play the shift, the analyst tells investors in a research note. The Japanese government has made the shift to cashless payments a national imperative, setting the stage for PayPay to become the “all-in-one digital-payments provider of choice,” contends Cantor.