PayPal (PYPL): Notes From CFO Meeting - Wedbush
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Wedbush analyst Gil Luria, reiterated his Outperform rating on shares of PayPal (NASDAQ: PYPL) after meeting with John Rainey, the company's CFO.
The CFO believes that the company has sufficient data to indicate the introduction of choice will increase sign-up rates, reduce churn and increase basket conversion. Beyond those volume drivers, PayPal can now deliver significant benefits to issuers and share in those economics, as retailers embrace the newly collaborative relationship.
The analyst believes this will help reduce competition as the need for products such as Visa Checkout goes away.
No change to the price target of $50.
Shares of PayPal closed at $40.49 yesterday.
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