Wells Fargo lowered the firm’s price target on PayPal (PYPL) to $48 from $67 and keeps an Equal Weight rating on the shares. The firm recognizes general sector concerns around competition and pricing following PayPal’s miss/lower guide, but thinks read-through for Payments is misguided, as its issues are largely company-specific and execution-related.
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Read More on PYPL:
- PayPal price target lowered to $55 from $75 at Keefe Bruyette
- Balanced Hold on PayPal Amid Execution Risks and Buyback Support
- PayPal: Solid Financials but Unclear Next Growth Engine Support a Hold Rating
- PayPal price target lowered to $46 from $70 at JPMorgan
- PayPal downgraded to Hold from Buy at Canaccord