BofA downgraded PayPal (PYPL) to Neutral from Buy with a price target of $68, down from $93. Efforts to reinvigorate growth in its core branded checkout is taking longer than expected and limits near-term upside, the analyst tells investors. The firm had expected product innovation and the upgraded checkout experience to drive increased usage of the PayPal button at checkout, but instead Q4 will see a step down in branded checkout growth and 2026 will be an investment year, the analyst added.
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