PayPal price target lowered to $41 from $64 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on PayPal (PYPL) to $41 from $64 and keeps a Sell rating on the shares. Shares fell sharply following a weaker outlook, management transition, and acknowledgment of share losses in key markets like Germany, confirming longstanding investor concerns, the analyst says in a research note. The valuation isn’t particularly compelling relative to peers, and without clear signs of improvement in branded checkout trends, execution risks could keep shares underperforming, Goldman says.