Keefe Bruyette analyst Sanjay Sakhrani lowered the firm’s price target on PayPal (PYPL) to $85 from $104 and keeps an Outperform rating on the shares as part of a Q1 payments preview. Until there is more clarity on the macro backdrop, it is hard to see payments stocks outperforming meaningfully given the fear of potential downward revision to estimates, the analyst tells investors in a research note.
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