Morgan Stanley analyst James Faucette lowered the firm’s price target on PayPal (PYPL) to $50 from $51 and keeps an Underweight rating on the shares. The firm is lowering its forecast for Branded checkout growth on the back of more negative management commentary, slightly softer e-commerce trends in Q4 and its view that PayPal’s share loss to competitors is set to persist, the analyst tells investors.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PYPL:
- PayPal downgraded to Sell from Neutral at Rothschild & Co Redburn
- Mixed options sentiment in PayPal with shares down 2.08%
- Target upgraded, Stryker downgraded: Wall Street’s top analyst calls
- PayPal-Backed Mesh Connect Achieves Billion-Dollar Unicorn Status in Latest Funding Surge
- Cantor starts PayPal at Neutral, says competitive pressures remain ‘intense’