PayPal price target lowered to $74 from $82 at Goldman Sachs

Goldman Sachs analyst Will Nance lowered the firm’s price target on PayPal (PYPL) to $74 from $82 and keeps a Neutral rating on the shares. Heading into Q1 earnings, financial technology stocks have generally underperformed as the macro picture “now appears much cloudier,” the analyst tells investors in a research note. Goldman still likes “higher beta names with idiosyncratic stories” and is “incrementally becoming more constructive on the more defensive names.”