Jefferies Reiterates Buy on PayPal (PYPL)
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies reiterated a Buy rating and $52.00 price target on PayPal (NASDAQ: PYPL) as the company considers a more asset-light model for its consumer credit business. Jefferies thinks the change could be related to both new and existing loans, and expects further updates over the next couple of quarters.
Analyst Jason Kupferberg commented, "PYPL is considering a more asset-light model for its consumer credit business, which while modestly EPS dilutive, would de-risk the business while still providing the same fly-wheel benefits, and we think would enhance PYPL's multiple. We also believe PYPL's focus on becoming the platform and partner of choice in online/mobile/social payments will ultimately drive long-term shareholder value. Maintain Buy."
Shares of PayPal closed at $39.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Assumes PayPal (PYPL) at Outperform
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!