Morgan Stanley keeps an Equal Weight rating on PayPal (PYPL) with a $75 price target after the company announced a multi-year strategic partnership with Alphabet’s (GOOGL) (GOOG) Google (GOOG, GOOGL) focused on advancing several commerce solutions. PayPal and Google are collaborating to create new artificial intelligence shopping experiences, but material conversion uplift will take time to realize, the analyst tells investors in a research note. As such, Morgan Stanley thinks the partnership is unlikely to meaningfully move the needle for PayPal in the near-term.
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