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

Morgan Stanley raised the firm’s price target on PayPal (PYPL) to $75 from $74 and keeps an Equal Weight rating on the shares. Investors were positive heading into the print as they looked for Branded acceleration along with a “beat & raise,” but the stock was down 8% yesterday as investors focused on the lack of a core U.S. Branded checkout acceleration, the analyst writes in a post-earnings note. The firm is “apprehensive” on the durability of Venmo checkout contribution amid churn and remains “ambivalent on credit-related expansion,” the analyst added.