Truist lowered the firm’s price target on PayPal (PYPL) to $44 from $45 and keeps a Sell rating on the shares as part of a broader research note on Payments following the group’s Q1 results. The firm states its top-line estimates are decreasing a bit as a result of ramping loyalty/rewards investments and international Total Payment Volume softness, adding however that this is partially offset by slightly higher total volume growth assumption, the analyst tells investors in a research note.
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