As previously reported, Loop Capital initiated coverage of PayPal (PYPL) with a Hold rating and $46 price target as part of a broader research note on FinTech Payments. The company is in transition with new incoming CEO to try and correct below-expectation merchant adoption of the revamped Branded Checkout, the analyst tells investors in a research note. Given headwinds to discretionary spend and a period of execution risk, the firm is “on the sidelines”, Loop adds.
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