PayPal price target lowered to $74 from $75 at Morgan Stanley

Morgan Stanley analyst James Faucette lowered the firm’s price target on PayPal (PYPL) to $74 from $75 and keeps an Equal Weight rating on the shares. Progress on “key to-dos,” such as Pay With Venmo, modern checkout integrations, BNPL, and partnerships are “notable, but not yet moving the needle,” says the analyst, who attributes the stock being up 4% after earnings “primarily” to an OpenAI partnership announcement as well as investors having been “skewed heavily negative” heading into the report.