PayPay initiated with an Outperform at Mizuho

Mizuho analyst Dan Dolev initiated coverage of PayPay (PAYP) with an Outperform rating and $26 price target The Japanese fintech company is positioned to compound growth as a payments, bank, securities, insurance, and crypto “super-app,” the analyst tells investors in a research note. The firm says PayPay is Japan’s number one mobile payments platform, capturing 75% of the country’s smartphone users. The company is branching into the financial services space, which creates “meaningful leverage in a G7 economy,” contends Mizuho.