PayPal (PYPL): Paypal Reiterates Top Pick - Nomura

October 5, 2016 7:01 AM EDT
Get Alerts PYPL Hot Sheet
Price: $41.69 -1.51%

Rating Summary:
    26 Buy, 15 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
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Nomura Securities analyst, Bill Carcache, reiterated his Buy rating on shares PayPal (NASDAQ: PYPL) and reiterated the company as his top pick.

A number of large investors remain notably absent from PYPL’s list of owners but the analyst expects that to change over time as investors gain greater comfort with the PYPL story. However, the analyst believes incremental TPV growth will exceed the increase in transaction expenses and this should remove the skepticism in time.

PYPL has yet to announce any partnerships with issuers so it could take several quarters before we see evidence that its new strategy will prove successful. Until then, investors will continue to debate what the elimination of steering will mean for PYPL’s transaction margins and EPS outlook.

No change to the price target of $54.

For an analyst ratings summary and ratings history on PayPal click here. For more ratings news on PayPal click here.

Shares of PayPal closed at $40.78 yesterday.

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